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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 10 months

Latest articles

NZD well supported
Positive vaccine and economic news Friday night, but equities slump and VIX surges on US equity market shenanigans. Other markets unperturbed. Global rates push higher. RBNZ to taper asset purchases this week
1st Feb 21, 8:27am
by Jason Wong
Positive vaccine and economic news Friday night, but equities slump and VIX surges on US equity market shenanigans. Other markets unperturbed. Global rates push higher. RBNZ to taper asset purchases this week
The NZD dips, then makes a nice recovery
Restrictions on retail trading platforms restore market confidence. US GDP up 4%; US jobless claims fall back. US equities up 2%, UST10s higher after going sub-1%. NZD and AUD show decent bounce-backs
29th Jan 21, 7:58am
by Jason Wong
2
Restrictions on retail trading platforms restore market confidence. US GDP up 4%; US jobless claims fall back. US equities up 2%, UST10s higher after going sub-1%. NZD and AUD show decent bounce-backs
A softer USD raises the NZD
Risk sentiment swings around overnight. Fresh S&P500 high gives way to flat result. NZD lower after printing above 0.7220. Stronger US data; No surprises from ECB or BoJ
22nd Jan 21, 8:02am
by Jason Wong
Risk sentiment swings around overnight. Fresh S&P500 high gives way to flat result. NZD lower after printing above 0.7220. Stronger US data; No surprises from ECB or BoJ
The NZD gains ½c overnight
Risk sentiment higher as Biden sworn in as President. US equities print fresh record highs. Commodity currencies outperform; NZD up 0.5% overnight. No concern, yet, of small outbreak of COVID-19 in China
21st Jan 21, 7:50am
by Jason Wong
Risk sentiment higher as Biden sworn in as President. US equities print fresh record highs. Commodity currencies outperform; NZD up 0.5% overnight. No concern, yet, of small outbreak of COVID-19 in China
Commodity currencies out of favour
Commodity currencies underperform; NZD dips below 0.71. Large speculative positioning against USD, with story of further weakness remaining compelling. US markets closed. S&P 500 futures slightly higher
19th Jan 21, 7:45am
by Jason Wong
Commodity currencies underperform; NZD dips below 0.71. Large speculative positioning against USD, with story of further weakness remaining compelling. US markets closed. S&P 500 futures slightly higher
NZD underperforms
Risk sentiment sours on new European travel restrictions. US equities trying to recover after a 2% fall early on. USD stronger, but sharp reversal overnight. NZD falls almost to 0.70 before recovering back towards 0.71
22nd Dec 20, 8:11am
by Jason Wong
1
Risk sentiment sours on new European travel restrictions. US equities trying to recover after a 2% fall early on. USD stronger, but sharp reversal overnight. NZD falls almost to 0.70 before recovering back towards 0.71
NZD rises, aided by Robertson comments
Risk sentiment higher as US fiscal stimulus package imminent. USD under the pump, with losses sustained after soft US data. Strong NZ data promotes further lift and steepening in domestic rates curve
18th Dec 20, 7:50am
by Jason Wong
Risk sentiment higher as US fiscal stimulus package imminent. USD under the pump, with losses sustained after soft US data. Strong NZ data promotes further lift and steepening in domestic rates curve
NZD stronger post fiscal update - touches new high - but falls back
US fiscal stimulus deal looks imminent. EU-UK trade deal on the right track as well. US retail sales very weak. Euro-area PMIs positively surprise. Markets subdued ahead of US FOMC announcement
17th Dec 20, 7:46am
by Jason Wong
US fiscal stimulus deal looks imminent. EU-UK trade deal on the right track as well. US retail sales very weak. Euro-area PMIs positively surprise. Markets subdued ahead of US FOMC announcement
The NZD can't breach 71 USc
Positive vibe on US fiscal package, Brexit and vaccines help lift US equities. USD under pressure again. NZD still seeing resistance around 0.71. NZD/AUD slipping
16th Dec 20, 7:39am
by Jason Wong
Positive vibe on US fiscal package, Brexit and vaccines help lift US equities. USD under pressure again. NZD still seeing resistance around 0.71. NZD/AUD slipping
NZD has tailwind
GBP weaker as odds on no UK-EU trade deal increase. Higher US inflation, poor jobless claims figures. ECB extends bond-buying program to little fanfare. Commodity currencies outperform, AUD up through 0.75 
11th Dec 20, 7:56am
by Jason Wong
GBP weaker as odds on no UK-EU trade deal increase. Higher US inflation, poor jobless claims figures. ECB extends bond-buying program to little fanfare. Commodity currencies outperform, AUD up through 0.75 
AUD responds to Aussie improvements
Little progress on US fiscal stimulus talks. UK PM Johnson heads to dinner to help restart Brexit negotiations. USD recovers a little. AUD a notable outperformer
10th Dec 20, 7:39am
by Jason Wong
Little progress on US fiscal stimulus talks. UK PM Johnson heads to dinner to help restart Brexit negotiations. USD recovers a little. AUD a notable outperformer
The NZD continues to push higher
Quiet night; Little progress on US fiscal negotiations or Brexit talks. Equities show small gains. UST 10-year down slightly. NZD treads water around 0.7040 with little movement elsewhere
9th Dec 20, 7:50am
by Jason Wong
Quiet night; Little progress on US fiscal negotiations or Brexit talks. Equities show small gains. UST 10-year down slightly. NZD treads water around 0.7040 with little movement elsewhere
NZD weaker overnight on all the key crosses
US equities up modestly but reach a fresh record high taking an optimistic view of the news. USD remains under significant pressure. NZD underperforms but still breaks 0.71 overnight
4th Dec 20, 7:48am
by Jason Wong
US equities up modestly but reach a fresh record high taking an optimistic view of the news. USD remains under significant pressure. NZD underperforms but still breaks 0.71 overnight
NZD settles back to early Wednesday levels
Flat US equities after yesterday's record high. US 10-year rate pushes higher. GBP under pressure as trade deal no guarantee. NZD prints fresh high before paring gains and underperforms AUD
3rd Dec 20, 7:40am
by Jason Wong
Flat US equities after yesterday's record high. US 10-year rate pushes higher. GBP under pressure as trade deal no guarantee. NZD prints fresh high before paring gains and underperforms AUD
NZD strong despite month-end pullback
Month-end flows a factor in overnight moves. US equities weaker after a huge month. USD stronger after a poor month. NZD lower after printing a fresh 2½-year high
1st Dec 20, 7:43am
by Jason Wong
3
Month-end flows a factor in overnight moves. US equities weaker after a huge month. USD stronger after a poor month. NZD lower after printing a fresh 2½-year high
NZD tightly range-bound
AstraZeneca to re-run trial after flaws in recent trial. S&P500 futures and Treasury futures little perturbed with US on holiday. NZD hovers around 0.70. Bitcoin plunges
27th Nov 20, 7:37am
by Jason Wong
3
AstraZeneca to re-run trial after flaws in recent trial. S&P500 futures and Treasury futures little perturbed with US on holiday. NZD hovers around 0.70. Bitcoin plunges
The NZD makes gains across the board
NZD prints new highs, back above 0.70, up 6% for the month to date. Steeper domestic curve as market re-positions for policy outlook. Cautious trading overnight ahead of US holiday
26th Nov 20, 7:56am
by Jason Wong
2
NZD prints new highs, back above 0.70, up 6% for the month to date. Steeper domestic curve as market re-positions for policy outlook. Cautious trading overnight ahead of US holiday
Better data settles in
Surprisingly strong US Markit PMI data drives USD higher; NZD falls from fresh 2-year high. GBP outperforms on hope for a trade deal this week
24th Nov 20, 7:36am
by Jason Wong
Surprisingly strong US Markit PMI data drives USD higher; NZD falls from fresh 2-year high. GBP outperforms on hope for a trade deal this week
Softer risk appetite backdrop
New restrictions outweigh positive vaccine news. Global equities and rates push lower. AUD underperforms, sending NZD/AUD to 0.95
20th Nov 20, 7:50am
by Jason Wong
New restrictions outweigh positive vaccine news. Global equities and rates push lower. AUD underperforms, sending NZD/AUD to 0.95
US Fed debasing the USD?
More positive vaccine news supports risk assets. Global equities and rates nudge higher. NZD prints a fresh 20-month high of 0.6940 
19th Nov 20, 7:46am
by Jason Wong
2
More positive vaccine news supports risk assets. Global equities and rates nudge higher. NZD prints a fresh 20-month high of 0.6940 
Commodity currencies nudge lower
A more cautious market, following yesterday's record highs for US equities. Global rates nudge lower. NZD back below 0.69 after touching fresh 20-month high
18th Nov 20, 7:46am
by Jason Wong
A more cautious market, following yesterday's record highs for US equities. Global rates nudge lower. NZD back below 0.69 after touching fresh 20-month high
NZD soft with other commodity currencies
Markets take on a more cautious tone overnight. Soft US CPI; US Treasuries rally. Commodity currencies on the soft side
13th Nov 20, 7:41am
by Jason Wong
Markets take on a more cautious tone overnight. Soft US CPI; US Treasuries rally. Commodity currencies on the soft side
NZD jumps
NZ rates and NZD surge post RBNZ MPS. No follow-through overnight, as USD recovers. NZD pushes higher on the crosses
12th Nov 20, 7:50am
by Jason Wong
NZ rates and NZD surge post RBNZ MPS. No follow-through overnight, as USD recovers. NZD pushes higher on the crosses
NZD at 20 month high
Risk appetite surges on positive vaccine news and US election result. US equities surge to record high. Global yields much higher. Vaccine news must surely weigh on RBNZ policy outlook update tomorrow
10th Nov 20, 7:51am
by Jason Wong
2
Risk appetite surges on positive vaccine news and US election result. US equities surge to record high. Global yields much higher. Vaccine news must surely weigh on RBNZ policy outlook update tomorrow
Broad-based USD weakness
Biden on the verge of victory, while Republicans look to hold Senate. Gridlock view supports further strong gains in equities. US Treasuries reverse course, showing modest lift in yields
6th Nov 20, 7:53am
by Jason Wong
Biden on the verge of victory, while Republicans look to hold Senate. Gridlock view supports further strong gains in equities. US Treasuries reverse course, showing modest lift in yields