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Forex Flash: RBA to hold, statement key - NAB

It would be a surprise if the RBA didn’t leave rates on hold today, the ultra-dovish NAB team says: "For the AUD today, with expectations for any change in rates from the RBA this afternoon running so low (17%) its more likely that fresh AUD direction for the currency will come from the tone of the statement" the bank adds. They also note recovery in Chinese stocks and the just released improved Australian retail sales as the other main driver on the Aussie today.

Forex: AUD/USD spikes to fresh weekly highs on better domestic data than expected

Aussie has spiked moderately to the upside printing fresh session and weekly highs at 1.0224 following better than expected domestic data. Retail sales for the month of January jumped to +0.9%, best result since Jun last year, and much better than the +0.4% expected and -0.4% for Dec, revised lower from -0.2%. Current account deficit also showed a better than expected result in the data, down -14.7B vs -15.4B. The pair is currently pull backing a bit from mentioned highs, last at 1.0210.
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