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Jason Wong

Jason Wong's picture
About: 

Jason Wong is BNZ’s currency strategist, producing analysis that informs the NZD view. He is also a part of National Australia Bank’s (NAB) Global FX Strategy team, which covers currency markets more broadly, with a focus on the G10 currencies.

Member for
5 years 6 months

Articles by Jason Wong

28th Jul 21, 8:01am
Risk off as China's regulatory crackdown on sectors spills over into other markets. S&P500 down over 1%, Nasdaq down over 2% at their lows. USD surprisingly weak during risk-off episode, but NZD and AUD still dragged down by hit on CNY
Risk off as China's regulatory crackdown on sectors spills over into other markets. S&P500 down over 1%, Nasdaq down over 2% at their lows. USD surprisingly weak during risk-off episode, but NZD and AUD still dragged down by hit on CNY
28th Jul 21, 8:01am
27th Jul 21, 7:41am
Risk appetite recovers after weak Asian trading session. US equities up slightly to a fresh record high. US nominal 10-year rate little changed for the day but real rate prints a record low. NZD regains the 0.70 handle amidst broad USD weakness
Risk appetite recovers after weak Asian trading session. US equities up slightly to a fresh record high. US nominal 10-year rate little changed for the day but real rate prints a record low. NZD regains the 0.70 handle amidst broad USD weakness
27th Jul 21, 7:41am
23rd Jul 21, 7:46am
Global equities push higher; global rates push lower. ECB reasserts dovish credentials resulting in small EUR underperformance. NZD and AUD show small gains. Strong demand for NZGBs even after QE ends in NZ
Global equities push higher; global rates push lower. ECB reasserts dovish credentials resulting in small EUR underperformance. NZD and AUD show small gains. Strong demand for NZGBs even after QE ends in NZ
23rd Jul 21, 7:46am
22nd Jul 21, 7:48am
Higher risk sentiment drives up equities, global rates, commodities and commodity currencies. US 10-year rate back up towards 1.3%. Strong US earnings help; companies report widespread inflation pressures
Higher risk sentiment drives up equities, global rates, commodities and commodity currencies. US 10-year rate back up towards 1.3%. Strong US earnings help; companies report widespread inflation pressures
22nd Jul 21, 7:48am
21st Jul 21, 7:51am
US equities bounce back strongly but other markets don't. US 10-year rate hits fresh low below 1.13% before reversing course. NZD and AUD hit fresh year-to-date lows. COVID19 risks overhang the market; conviction of August RBNZ rate hike recedes
US equities bounce back strongly but other markets don't. US 10-year rate hits fresh low below 1.13% before reversing course. NZD and AUD hit fresh year-to-date lows. COVID19 risks overhang the market; conviction of August RBNZ rate hike recedes
21st Jul 21, 7:51am
20th Jul 21, 7:51am
Risk sentiment sours on worries about delta variant and increased geopolitical tensions with China. Equities tumble, US 10-year rate plunges to 5-month low of 1.17%. Commodity currencies down around 1%; NZD nears 0.6920 support level
Risk sentiment sours on worries about delta variant and increased geopolitical tensions with China. Equities tumble, US 10-year rate plunges to 5-month low of 1.17%. Commodity currencies down around 1%; NZD nears 0.6920 support level
20th Jul 21, 7:51am
19th Jul 21, 7:40am
Risk appetite weaker on Friday as US consumer sentiment softens. US 10-year rate closes below 1.30%; USD well supported. NZD supported as inflation surges to above the RBNZ's 1-3% target range
Risk appetite weaker on Friday as US consumer sentiment softens. US 10-year rate closes below 1.30%; USD well supported. NZD supported as inflation surges to above the RBNZ's 1-3% target range
19th Jul 21, 7:40am
8th Jul 21, 7:59am
US 10-year rate falls further, goes sub-1.30%. US equities show modest gains, but still post a fresh record high. Small lift in NZD as rate hike expectations solidify. No surprise from FOMC minutes
US 10-year rate falls further, goes sub-1.30%. US equities show modest gains, but still post a fresh record high. Small lift in NZD as rate hike expectations solidify. No surprise from FOMC minutes
8th Jul 21, 7:59am
7th Jul 21, 7:45am
NZ QSBO and RBA update drive NZD and AUD higher as market brings forward start date of expected policy tightening. But moves reverse course overnight as risk sentiment sours. US 10-year rate falls to lowest level in more than four months 
NZ QSBO and RBA update drive NZD and AUD higher as market brings forward start date of expected policy tightening. But moves reverse course overnight as risk sentiment sours. US 10-year rate falls to lowest level in more than four months 
7th Jul 21, 7:45am
6th Jul 21, 7:57am
Quiet trading with the US public holiday. Oil prices higher as no new production deal signed. NZD and AUD flat, trading well below fair value. NZ QSBO and RBA policy announcement today
Quiet trading with the US public holiday. Oil prices higher as no new production deal signed. NZD and AUD flat, trading well below fair value. NZ QSBO and RBA policy announcement today
6th Jul 21, 7:57am
1st Jul 21, 7:50am
4
Markets unmoved by string of data releases. Demand for US Treasuries and USD into month-end. NZ commodity prices rise to a record high. NZ economy overheating; another +$32 bln in household lending
Markets unmoved by string of data releases. Demand for US Treasuries and USD into month-end. NZ commodity prices rise to a record high. NZ economy overheating; another +$32 bln in household lending
1st Jul 21, 7:50am
30th Jun 21, 7:39am
Strong confidence data in the US and Euro area supports global equity markets. US Treasuries remain locked in a tight trading range. Commodity currencies underperform despite higher commodity prices and positive risk sentiment
Strong confidence data in the US and Euro area supports global equity markets. US Treasuries remain locked in a tight trading range. Commodity currencies underperform despite higher commodity prices and positive risk sentiment
30th Jun 21, 7:39am
29th Jun 21, 7:43am
Cautious trading tone, likely to continue ahead of Friday's US employment report. US 10-year rate falls, reversing Friday night rise. NZD starts the week on a soft note alongside other commodity currencies
Cautious trading tone, likely to continue ahead of Friday's US employment report. US 10-year rate falls, reversing Friday night rise. NZD starts the week on a soft note alongside other commodity currencies
29th Jun 21, 7:43am
25th Jun 21, 7:42am
Calm market conditions; equity markets push higher, rates market tightly range-bound. GBP on the soft side after BoE plays with a straight bat with no hint of tightening
Calm market conditions; equity markets push higher, rates market tightly range-bound. GBP on the soft side after BoE plays with a straight bat with no hint of tightening
25th Jun 21, 7:42am
23rd Jun 21, 7:46am
Focus on Fed speakers overnight. Market conditions calmer; Equities higher, UST yields range bound. NZD outperforms, well up through 0.70 as USD softens
Focus on Fed speakers overnight. Market conditions calmer; Equities higher, UST yields range bound. NZD outperforms, well up through 0.70 as USD softens
23rd Jun 21, 7:46am
22nd Jun 21, 7:35am
Markets unwind some of last week's incredible price action. USD falls, US Treasuries curve significantly re-steepens, reflation-trade sectors favoured in rebound for US equities
Markets unwind some of last week's incredible price action. USD falls, US Treasuries curve significantly re-steepens, reflation-trade sectors favoured in rebound for US equities
22nd Jun 21, 7:35am
18th Jun 21, 8:06am
1
Positioning shakeout post-Fed evident in commodities, currencies and Treasuries curve. Commodities plunge, taking NZD and AUD to fresh lows. Strong NZ GDP brings RBNZ policy tightening expectations forward
Positioning shakeout post-Fed evident in commodities, currencies and Treasuries curve. Commodities plunge, taking NZD and AUD to fresh lows. Strong NZ GDP brings RBNZ policy tightening expectations forward
18th Jun 21, 8:06am
15th Jun 21, 7:43am
US 10-year rate up nearly 5bps, reversing half of last week's fall, ahead of key FOMC policy update later this week. Oil prices hit a 2 year high; bets increase of an eventual move to $100 a barrel
US 10-year rate up nearly 5bps, reversing half of last week's fall, ahead of key FOMC policy update later this week. Oil prices hit a 2 year high; bets increase of an eventual move to $100 a barrel
15th Jun 21, 7:43am
14th Jun 21, 7:27am
USD short-covering on Friday ahead of Fed policy update this week sees NZD close at a two-month low. US 10-year Treasury rate near bottom-of the-range as inflation expectations fall
USD short-covering on Friday ahead of Fed policy update this week sees NZD close at a two-month low. US 10-year Treasury rate near bottom-of the-range as inflation expectations fall
14th Jun 21, 7:27am
11th Jun 21, 7:53am
US CPI inflation cracks 5% mark and ECB policy update on the dovish side of expectations. Market prepared to back Fed's view that inflation will prove transitory, so Treasury yields drift lower
US CPI inflation cracks 5% mark and ECB policy update on the dovish side of expectations. Market prepared to back Fed's view that inflation will prove transitory, so Treasury yields drift lower
11th Jun 21, 7:53am
9th Jun 21, 7:54am
Equities flat but US 10-year rate heads to bottom of the range, ahead of key US CPI data tomorrow night. NZD back below 0.72; NZD/AUD sub-0.93. NZ rates lower, playing catch-up after long weekend
Equities flat but US 10-year rate heads to bottom of the range, ahead of key US CPI data tomorrow night. NZD back below 0.72; NZD/AUD sub-0.93. NZ rates lower, playing catch-up after long weekend
9th Jun 21, 7:54am
2nd Jun 21, 7:51am
Mostly strong data, but US ISM employment component soft ahead of key employment data on Friday. US equities flat and US 10-year trades a tight range. Domestic rates continue to push lower, reversing initial post-MPS move
Mostly strong data, but US ISM employment component soft ahead of key employment data on Friday. US equities flat and US 10-year trades a tight range. Domestic rates continue to push lower, reversing initial post-MPS move
2nd Jun 21, 7:51am
1st Jun 21, 7:43am
US and UK on holiday; a fittingly dull end to a dull month. PBoC signals some discomfort with pace of CNY strength. NZD and AUD push higher against the backdrop of weaker USD
US and UK on holiday; a fittingly dull end to a dull month. PBoC signals some discomfort with pace of CNY strength. NZD and AUD push higher against the backdrop of weaker USD
1st Jun 21, 7:43am
31st May 21, 7:38am
A quiet end to last week ahead of the US holiday today. Another positive US inflation surprise but US 10-year yield drifts lower. NZD and AUD sluggish against backdrop of higher risk appetite and CNY strength
A quiet end to last week ahead of the US holiday today. Another positive US inflation surprise but US 10-year yield drifts lower. NZD and AUD sluggish against backdrop of higher risk appetite and CNY strength
31st May 21, 7:38am
27th May 21, 7:50am
RBNZ MPS a market-mover as the Bank signals rate hikes from next year. Stronger USD overnight sees NZD lose some of its post-MPS gains, now back below 0.73. NZ rates much higher, with the 5-year rate up the furthest
RBNZ MPS a market-mover as the Bank signals rate hikes from next year. Stronger USD overnight sees NZD lose some of its post-MPS gains, now back below 0.73. NZ rates much higher, with the 5-year rate up the furthest
27th May 21, 7:50am

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