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 Data Response

Machinery Orders (Aug.)

The continued surge in machinery orders in August suggests that business investment may have been stronger in Q3 than we had anticipated. Even so, we still expect a marked slowdown in Q3 GDP growth.

10th October 2018 1 min read

India Economics Focus

A helping hand from the diaspora

Remittances from abroad are a vital – yet often underappreciated – source of funding for India at the macro level, and provide significant financial support for millions of families. Remittances may...

9th October 2018 1 min read

China Economics Update

PBOC to ease policy further but retain its grip on RMB

We think the upcoming reduction in banks’ required reserve ratio will be followed by cuts to the policy rate to ensure that interbank rates fall far enough to boost lending. But despite its growing...

8th October 2018 1 min read

India Economics Weekly

Sensex has further to fall, winter MSP hikes contained

We think that the recent fall in Indian equities – down by another 4% this week – has further to run. Domestically, concerns over the scale of balance sheet problems in the shadow banking sector will...

5th October 2018 1 min read

Australia & New Zealand Data Response

Retail Sales (Aug.)

The rebound in retail sales in August provides further evidence that households are still proving reasonably resilient to low income growth and falling house prices. But with house prices falling at...

5th October 2018 1 min read

Japan Data Response

Labour Cash Earnings & Household Spending (Aug.)

The strongest rise in regular earnings since 1997 should be followed by even stronger gains in coming months as the labour market tightens further.

5th October 2018 1 min read

Asia Economics Update

What does the recent jump in oil prices mean for Asia?

The biggest impact of a period of sustained higher oil prices would be in India and the Philippines, whose current account deficits would be pushed even more into the red, putting further downward...

4th October 2018 1 min read

Australia & New Zealand Data Response

International Trade (Aug.)

The small rise in the international trade surplus in August provides more evidence that the US-China trade war is not affecting Australia’s external sector. In fact, the recent weakening in the...

4th October 2018 1 min read

Australia & New Zealand Economics Update

Economy unlikely to live up to RBA’s expectations

The Reserve Bank of Australia (RBA) sounded a bit more confident in its economic outlook when it decided to leave interest rates unchanged at 1.5% for the 26th month today. But we still think that GDP...

2nd October 2018 1 min read

India Data Response

Manufacturing PMI (Sep.)

India’s manufacturing PMI rose in September, continuing the recent run of positive economic data. Looking ahead, prospects for local manufacturers remain fairly bright over the near term.

1st October 2018 1 min read

Australia & New Zealand Data Response

CoreLogic House Prices (Sep.)

The largest monthly fall in house prices since the global financial crisis underlines that the current downturn may well prove to be the longest and deepest in Australia’s modern history.

1st October 2018 1 min read

China Data Response

PMIs (Sep.)

The latest PMI readings suggest that growth slowed last month. The breakdown points toward weaker exports, though it’s too soon to know if this is due to US tariffs or simply the result of cooling...

1st October 2018 1 min read

Japan Data Response

Tankan (Q3)

The deterioration in business conditions in the Q3 Tankan supports our view that GDP growth slowed last quarter. That said, firms remain optimistic about the outlook for capital spending and the...

1st October 2018 1 min read

China Economics Weekly

PBOC stands pat, on-budget fiscal support maxed out

The People’s Bank clearly doesn’t feel under great pressure to “follow the Fed”. It left its policy rates on hold this week after the US Fed raised rates and we expect it to cut rates in the coming...

28th September 2018 1 min read

Asia Data Response

Vietnam GDP (Q3)

Vietnam’s economy recorded another quarter of solid growth in the third quarter of the year. But with exports set to weaken and fiscal policy being tightened, we expect growth to slow over the next...

28th September 2018 1 min read

India Economics Weekly

Shadow banks in the spotlight

After spending years in the background amid the well-documented struggles of state-owned banks, India’s “shadow” banking sector has been thrust into the spotlight over the past week following news...

28th September 2018 1 min read