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Jason Wong

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

9 years 3 months

Latest articles

AUD weakens on RBA easing expectations
US equities rebound, but S&P500 still down for the week. Fiscal talks news and US Supreme Court nomination post-date Friday close. NZD flat; NZD/AUD closes above 0.93
28th Sep 20, 7:26am
by Jason Wong
US equities rebound, but S&P500 still down for the week. Fiscal talks news and US Supreme Court nomination post-date Friday close. NZD flat; NZD/AUD closes above 0.93
A positive mood sees the NZD recover
Mixed overnight trading session reflecting the mix of drivers. NZD and AUD recover after printing fresh lows. NZ long rates continue to rally
25th Sep 20, 7:45am
by Jason Wong
Mixed overnight trading session reflecting the mix of drivers. NZD and AUD recover after printing fresh lows. NZ long rates continue to rally
Weak risk sentiment knocks the NZD
Equities under downward pressure again. NZD and AUD fall by more than 1% for the day. RBNZ MPR in line, so that wasn't a factor. Market lining up for further RBA easing
24th Sep 20, 7:47am
by Jason Wong
1
Equities under downward pressure again. NZD and AUD fall by more than 1% for the day. RBNZ MPR in line, so that wasn't a factor. Market lining up for further RBA easing
NZD retracting some of last week’s undeserving outperformance
Risk sentiment sours, with a number of investor concerns raised. Chunky falls in equity markets, global rates fall. USD outperforms, NZD the worst down 1.4%
22nd Sep 20, 7:27am
by Jason Wong
Risk sentiment sours, with a number of investor concerns raised. Chunky falls in equity markets, global rates fall. USD outperforms, NZD the worst down 1.4%
NZD well supported
Fed adds state-contingent forward guidance to rates outlook. Market takes that in its stride, expects rates to remain low for many years. NZ debt funding program lowered, pushing long NZGB yields lower
17th Sep 20, 7:51am
by Jason Wong
Fed adds state-contingent forward guidance to rates outlook. Market takes that in its stride, expects rates to remain low for many years. NZ debt funding program lowered, pushing long NZGB yields lower
Whippy NZD due to speculators
Global equities recover further, supported by positive China economic data. Lack of follow-through in yesterday's gains for NZD, AUD
16th Sep 20, 7:47am
by Jason Wong
Global equities recover further, supported by positive China economic data. Lack of follow-through in yesterday's gains for NZD, AUD
Higher risk appetite supports the NZD
US equity markets rebound strongly helped by positive news on vaccines and spate of corporate activity. NZD higher, at the expense of AUD, on speculation of further RBA easing
15th Sep 20, 7:36am
by Jason Wong
US equity markets rebound strongly helped by positive news on vaccines and spate of corporate activity. NZD higher, at the expense of AUD, on speculation of further RBA easing
With a risk-off backdrop, the NZD and AUD have been well-bid
Equity markets reverse course, Nasdaq up 3%. NZD and AUD push higher. A historical day for domestic rates, as NZGB and swap rates go negative
10th Sep 20, 7:56am
by Jason Wong
1
Equity markets reverse course, Nasdaq up 3%. NZD and AUD push higher. A historical day for domestic rates, as NZGB and swap rates go negative
Risk off leads to Kiwi dollar falls
Equity markets tumble further. NZD falls over -1% with the risk-off backdrop. GBP remains under pressure on Brexit concerns
9th Sep 20, 9:16am
by Jason Wong
Equity markets tumble further. NZD falls over -1% with the risk-off backdrop. GBP remains under pressure on Brexit concerns
Both NZ swaps and NZGB curves build steepening biases
GBP down on negative Brexit talk. NZD/AUD back below 0.92. NZ curves steepen
8th Sep 20, 7:45am
by Jason Wong
GBP down on negative Brexit talk. NZD/AUD back below 0.92. NZ curves steepen
NZD slips against all majors
Equity markets slump after their rapid rise. Safe haven currencies outperform, NZD down to 0.6700. Modest fall in US Treasury yields
4th Sep 20, 7:47am
by Jason Wong
Equity markets slump after their rapid rise. Safe haven currencies outperform, NZD down to 0.6700. Modest fall in US Treasury yields
The NZD rises
USD recovers; EUR slumps. NZD outperforms with NZD/AUD higher. Global rates lower; Fresh highs for equities
3rd Sep 20, 7:49am
by Jason Wong
1
USD recovers; EUR slumps. NZD outperforms with NZD/AUD higher. Global rates lower; Fresh highs for equities
Fed’s super-dovish policy more than offsets the RBNZ’s super-dovish policy
The NZD and AUD both print fresh highs. US yield curve flattens slightly. US equities end a strong month on a flat note
1st Sep 20, 7:44am
by Jason Wong
2
The NZD and AUD both print fresh highs. US yield curve flattens slightly. US equities end a strong month on a flat note
The USD languishes
Cheap money over the tail risk of World War III is winning the day for financial markets. Equities at fresh record highs. NZD outperforms after a poor run month-to-date
27th Aug 20, 7:45am
by Jason Wong
Cheap money over the tail risk of World War III is winning the day for financial markets. Equities at fresh record highs. NZD outperforms after a poor run month-to-date
NZD tracking sideways
Global rates push higher. USD and JPY underperform . NZ government bond yields down to a fresh record low
26th Aug 20, 7:46am
by Jason Wong
Global rates push higher. USD and JPY underperform . NZ government bond yields down to a fresh record low
An air of optimism
Equities gain on positive virus developments. Currencies, global rates well contained. NZ rates fall to a fresh record low
25th Aug 20, 7:39am
by Jason Wong
2
Equities gain on positive virus developments. Currencies, global rates well contained. NZ rates fall to a fresh record low
USD gains after Fed minutes release
USD reverses course, shows broad based gains. NZD back below 0.66 but outperforms on the crosses. RBNZ speech this morning
20th Aug 20, 7:52am
by Jason Wong
USD reverses course, shows broad based gains. NZD back below 0.66 but outperforms on the crosses. RBNZ speech this morning
NZD gains against all majors
US equities rise to record high helped by further broad weakness in the USD. NZD outperforms and regains 0.66 handle even with NZ short-rates down to record lows
19th Aug 20, 7:48am
by Jason Wong
US equities rise to record high helped by further broad weakness in the USD. NZD outperforms and regains 0.66 handle even with NZ short-rates down to record lows
NZD doesn't rise with other commodity currencies
US equities higher even with no fiscal stimulus bill in sight. Global rates fall after rising last week. USD soft but so is NZD, seeing NZD/AUD down to 2-year low
18th Aug 20, 7:47am
by Jason Wong
1
US equities higher even with no fiscal stimulus bill in sight. Global rates fall after rising last week. USD soft but so is NZD, seeing NZD/AUD down to 2-year low
NZD recovers after dovish MPS
US equities on the cusp of a record close. Risk appetite supports NZD and AUD. So NZD back above pre-RBNZ MPS level. NZ rates market significantly outperforms post dovish MPS
13th Aug 20, 7:56am
by Jason Wong
1
US equities on the cusp of a record close. Risk appetite supports NZD and AUD. So NZD back above pre-RBNZ MPS level. NZ rates market significantly outperforms post dovish MPS
Eyes on RBNZ's MPS
US stimulus extensions mired in disagreements. Equities nudge higher; little change in rates. NZD slips below 0.66; NZD/AUD finds support near 0.92
11th Aug 20, 7:42am
by Jason Wong
2
US stimulus extensions mired in disagreements. Equities nudge higher; little change in rates. NZD slips below 0.66; NZD/AUD finds support near 0.92
Currency traders ignore NZ jobs data
Risk sentiment higher. Equities up, bond yields up. USD underperforms although NZD, AUD rally fades
6th Aug 20, 7:50am
by Jason Wong
Risk sentiment higher. Equities up, bond yields up. USD underperforms although NZD, AUD rally fades
NZD under more pressure
Market likes flattening of US COVID19 case numbers and ISM data. Equities, USD and UST yields higher. NZD and AUD slightly underperform
4th Aug 20, 8:00am
by Jason Wong
Market likes flattening of US COVID19 case numbers and ISM data. Equities, USD and UST yields higher. NZD and AUD slightly underperform
NZD slips with the USD
FOMC maintains dovish tone. S&P higher, sustaining gains ahead of the meeting. GBP, EUR and AUD make fresh highs with USD under pressure. NZD lags the others
30th Jul 20, 7:52am
by Jason Wong
FOMC maintains dovish tone. S&P higher, sustaining gains ahead of the meeting. GBP, EUR and AUD make fresh highs with USD under pressure. NZD lags the others
NZD is weaker on all the crosses
NZD broadly lower over past 24 hours. Markets in a cautious mode; 5bps rally in bonds overnight. GBP outperforms
29th Jul 20, 7:48am
by Jason Wong
1
NZD broadly lower over past 24 hours. Markets in a cautious mode; 5bps rally in bonds overnight. GBP outperforms