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Australian retail sales Jan stronger-than-expected

Australian retail sales came much better-than-expected at 0.9% on the month of January vs 0.4% expected, which makes the positive deviation of 0.5bp a potential driver to take out 1.0220/25 resistance. However, with the RBA monetary decision ahead at 3.30GMT, investors may prefer to stay on the sidelines until further clarity on the central bank's statement is given. In a parallel data published, Q4 net export contribution stood at 0.6 points vs 0.5 points expected.
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