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.

Australia & New Zealand Chart Pack

Retail sector on the ropes

Despite the sustained strengthening in the Australian labour market, retail sales have been unusually weak in recent months. Admittedly, some of this weakness can be explained by weak price pressures...

31st October 2017 1 min read

Australia & New Zealand Economic Outlook

Challenging the tightening trend

Australia and New Zealand will probably stand out from the crowd next year as interest rates stay at their respective record lows of 1.50% and 1.75% while rates are raised in some other advanced...

30th October 2017 1 min read

Japan Data Response

Retail Sales (Sep.)

Despite a rebound in retail sales in September, private consumption probably fell in Q3 for the first time in almost two years. However, the weakness is unlikely to last as household incomes are...

30th October 2017 1 min read

Japan Data Response

Consumer Prices (Sep.)

Inflation didn’t rise any further in September. With the tailwind from higher energy prices set to fade, we think that price gains will level off around 0.5% in coming months.

27th October 2017 1 min read

Asia Data Response

Korea GDP (Q3)

GDP growth in South Korea rose to a seven-year high in q/q terms last quarter as the economy brushed off the rising tensions on the Korean peninsula. Provided conflict is avoided, South Korea should...

26th October 2017 1 min read

India Economics Update

Initial thoughts on the recapitalisation package

A large-scale recapitalisation plan announced yesterday by the government is the most significant measure yet to deal with India’s banking sector malaise. That said, the package will come at a fiscal...

25th October 2017 1 min read

China Economics Update

Xi tightens his grip, leaves succession plans unclear

As expected, Xi was able to stack China’s top leadership group with close allies. Furthermore, he left the door open to staying on beyond 2022 by not anointing a successor. Unfortunately, there are...

25th October 2017 1 min read

China Economics Update

Xi enshrined in constitution, signalling his dominance

Wang Qishan was not among the members of the new central committee announced today, ending speculation that retirement norms would be broken so that he could keep his position, possibly as a precursor...

24th October 2017 1 min read

India Chart Pack

Fiscal deficit target under pressure

The rapid expansion of the central government’s deficit in the early stages of the fiscal year is a regular occurrence, as revenues tend to get ramped up in latter months. Nevertheless, there are...

24th October 2017 1 min read

Japan Data Response

Flash Manufacturing PMI (Oct.)

Even though the manufacturing PMI weakened a touch this month, it still points to robust gains in industrial output. However, the survey suggests that price pressures will not strengthen any further...

24th October 2017 1 min read

India Economics Update

Further rupee weakness likely

The Indian rupee has depreciated over the past few weeks, and recently dropped to a six-month low against the US dollar. Looking ahead, the currency could weaken a little more. But India’s reasonably...

23rd October 2017 1 min read

Japan Economics Update

What to expect from PM Abe’s fourth term?

We are re-sending this publication because the previous one contained an error. Mr Abe is now entering his fourth term as Prime Minister. Fiscal policy will probably be tightened further during PM Abe...

23rd October 2017 1 min read

India Economics Update

MPC minutes highlight inflation and fiscal worries

The minutes of the Reserve Bank of India’s (RBI’s) October policy meeting reveal that most members expressed caution about recent fiscal developments and the inflation outlook. Indeed, with inflation...

19th October 2017 1 min read

China Data Response

GDP (Q3) & Activity (Sep.)

Both the official figures and our own China Activity Proxy suggest that growth held up well last quarter, and so did the monthly activity data in September. However, a less supportive fiscal policy...

19th October 2017 1 min read

Asia Economics Update

Bank of Korea to keep rates low for some time yet

The Bank of Korea (BoK) left interest rates on hold today and the governor’s accompanying press conference makes clear that monetary policy will remain accommodative. We continue to expect the policy...

19th October 2017 1 min read

Australia & New Zealand Data Response

Labour Market (Sep.)

The larger than expected rise in employment in September marks the seventh consecutive month of strong job gains in Australia and leaves little doubt about the current health of the labour market...

19th October 2017 1 min read