Julie Nicol

Julie Nicol is the Office Administrator in Singapore, working closely with the London office as well as providing support to the local sales team.

Japan Economics Update

The impact on Japan of a trade war

Even if it escalates, the trade dispute between the US and China shouldn’t do significant damage to Japan’s economy. US tariffs on Japanese vehicles would be a greater concern, while a blanket US...

21st August 2018 1 min read

Asia Data Response

Thailand GDP (Q2)

GDP growth in Thailand cooled slightly in Q2, after expanding at its fastest pace in five years in Q1. We expect growth to slow gradually over the coming quarters, due mainly to weaker export demand.

20th August 2018 1 min read

India Data Response

Wholesale Prices (Jul.)

Wholesale price inflation moderated in July after hitting a five-year high in June. But core inflation remained elevated, supporting our view that the RBI’s tightening cycle still has a little further...

14th August 2018 1 min read

Japan Chart Pack

0.1% is the new 0%

The Bank of Japan’s decision to allow JGB yields to deviate by 0.2 percentage points rather than 0.1 percentage points from its 0% target suggests that long-term bond yields will settle at a slightly...

13th August 2018 1 min read

Asia Data Response

Singapore GDP (Q2 Revised)

The revised estimate of Singapore’s Q2 GDP confirmed that the economy lost some steam in the second quarter. With global growth set to cool and local interest rates rising, Singapore’s growth is set...

13th August 2018 1 min read

Australia & New Zealand Economics Update

Putting the housing downturn into context

The fall in house prices seen so far is small by the standards of the average Australian downturn. But a further tightening in credit criteria may contribute to it morphing into the deepest and...

13th August 2018 1 min read

Japan Economics Weekly

BoJ's cold feet, consumer spending boycott

Media reports suggest that the Bank of Japan was close to hiking rates twice this year. But the decision to allow ten-year yields to rise a bit further above the 0% target placated the hawks on the...

10th August 2018 1 min read

Europe Data Response

German Industrial Production & Trade (Jun.)

June’s industrial production and trade figures suggest that the previously booming German economy is already feeling the effects of trade tensions. But with the domestic economy in good shape and...

7th August 2018 1 min read

Japan Data Response

Labour Cash Earnings & Household Spending (Jun.)

The surge in wage growth in June was mostly driven by stronger bonus payments whereas base pay didn’t pick up any further. Meanwhile, the rise in household spending in June adds to the evidence that...

7th August 2018 1 min read

Australia & New Zealand Economics Update

China’s tariffs may help LNG exports in the long-term

Australia’s liquefied natural gas (LNG) producers are unlikely to benefit much from China’s proposal to impose a 25% tariff on LNG imports from the US simply because China doesn’t buy that much LNG...

6th August 2018 1 min read

Asia Data Response

Indonesia GDP (Q2)

Indonesia’s growth picked up to 5.3% y/y in Q2, from 5.1% in Q1, with a slowdown in investment growth compensated for by a pick-up in consumption and government spending. However, we doubt Indonesia’s...

6th August 2018 1 min read

India Data Response

Manufacturing PMI (Jul.)

India’s manufacturing PMI dropped in July, following the trend across most of Asia. Nevertheless, the reading remains decent, and prospects for local manufacturers remain bright over the near term.

1st August 2018 1 min read

Asia Data Response

Manufacturing PMIs (Jul.)

Most of Emerging Asia’s PMIs fell in July. However, there were no clear signs in the PMI surveys that suggest the first tranche of US tariffs on Chinese goods that came into effect in early July have...

1st August 2018 1 min read

China Data Response

Caixin Manufacturing PMI (Jul.)

The latest Caixin manufacturing PMI reading suggests that the sector lost a little momentum in July. We expect further weakness ahead.

1st August 2018 1 min read

Australia & New Zealand Data Response

CoreLogic House Prices (Jul.)

The acceleration in the housing downturn in July should make the RBA and some other analysts sit up and take notice. What’s more, the worst is yet to come. Our relatively bearish forecast that prices...

1st August 2018 1 min read

RBA Watch

Another year of inaction ahead

The combined message from the Reserve Bank of Australia’s policy announcement on Tuesday 7 th August and the publication of the Statement on Monetary Policy on Friday 10 th will probably be that even...

31st July 2018 1 min read