Following the strong Australian jobs.........>

AUSSIE: Following the strong Australian jobs release overnight Barclays

commented on monetary policy and think the RBA is in no hurry to change its

policy guidance. They add it has reemphasized on several occasions that it is

willing to be "patient" and will wait for a material turn in economic growth and

some improvement in income growth before undertaking any policy normalisation.

This, in our view, suggests roughly two quarters of better economic data for the

RBA to monitor and, hence, we think the central bank is unlikely to signal a

shift any time soon. We believe the recent improvement in PMIs and the increase

in global demand are positive for the 2018 outlook. However, we expect the RBA

to remain on hold through H1 18, and raise the policy rate 25bp at both the

August and November 2018 Reserve Bank Board meetings.