Japan Labor Cash Earnings (YoY) 0.7% in Jan

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.