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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

Large net short speculative positions in the NZD
Saturday humiliation for Australia, Ireland and Boris Johnson, but at least Boris has a chance to bounce back this week. NZD and AUD close at month-highs
21st Oct 19, 7:59am
by Jason Wong
Saturday humiliation for Australia, Ireland and Boris Johnson, but at least Boris has a chance to bounce back this week. NZD and AUD close at month-highs
The New Zealand dollar gains +1%
A fresh UK/EU Brexit deal but will it get through UK Parliament? GBP and UST10s spike up, but then fall back as opposition to deal evident. NZD and AUD outperform, both up 1%
18th Oct 19, 7:53am
by Jason Wong
4
A fresh UK/EU Brexit deal but will it get through UK Parliament? GBP and UST10s spike up, but then fall back as opposition to deal evident. NZD and AUD outperform, both up 1%
Data undermines more RBNZ rate cut prospects
Hopes for US-China détente and Brexit deal. Support risk appetite; Equities and rates higher. GBP up 1.8%; Mild support for NZD
11th Oct 19, 7:47am
by Jason Wong
3
Hopes for US-China détente and Brexit deal. Support risk appetite; Equities and rates higher. GBP up 1.8%; Mild support for NZD
NZD holds despite mixed data
China still keen on an interim trade deal. Such talk lifts US equities, rates. But currencies unmoved
10th Oct 19, 8:01am
by Jason Wong
China still keen on an interim trade deal. Such talk lifts US equities, rates. But currencies unmoved
The trade mood music is really bad
More bad news ahead of trade talks. Sees risk appetite sour. NZD back below 0.63. GBP weaker as Brexit deal looks impossible
9th Oct 19, 8:02am
by Jason Wong
4
More bad news ahead of trade talks. Sees risk appetite sour. NZD back below 0.63. GBP weaker as Brexit deal looks impossible
China turns tougher in trade war talks
Focus turns to key US-China trade talks. A quiet start to the week with the NZD, AUD, CNY on the soft side ahead of that
8th Oct 19, 8:04am
by Jason Wong
2
Focus turns to key US-China trade talks. A quiet start to the week with the NZD, AUD, CNY on the soft side ahead of that
NZD holds but local rates sink
US unemployment rate falls to 50-year low. Supports risk assets, although modest reaction for US rates, currencies. NZ rates fall to fresh record lows
7th Oct 19, 8:05am
by Jason Wong
US unemployment rate falls to 50-year low. Supports risk assets, although modest reaction for US rates, currencies. NZ rates fall to fresh record lows
Orr speech boosts NZD
US politics and trade war remain in focus. Modest risk off tone prevailing. But NZD gains after Orr speech yesterday
27th Sep 19, 7:49am
by Jason Wong
US politics and trade war remain in focus. Modest risk off tone prevailing. But NZD gains after Orr speech yesterday
NZD post OCR move higher fleeting
No smoking gun in Trump-Ukraine President transcript. US equities, rates and USD all higher. NZD underperforms slightly post RBNZ OCR Review
26th Sep 19, 8:00am
by Jason Wong
No smoking gun in Trump-Ukraine President transcript. US equities, rates and USD all higher. NZD underperforms slightly post RBNZ OCR Review
Americans expecting business conditions to worsen at a 6-year high
Impeachment of Trump on the agenda, soft US data sending US equities, US rates and USD lower. AUD and NZD supported by upbeat speech by RBA Governor Lowe, ahead of RBNZ OCR review today
25th Sep 19, 7:53am
by Jason Wong
3
Impeachment of Trump on the agenda, soft US data sending US equities, US rates and USD lower. AUD and NZD supported by upbeat speech by RBA Governor Lowe, ahead of RBNZ OCR review today
Lower European rates have dragged down US Treasury yields
NZD recovers some of last week’s losses. Euro area PMIs lurch down further, dragging down EUR and global rates
24th Sep 19, 7:44am
by Jason Wong
NZD recovers some of last week’s losses. Euro area PMIs lurch down further, dragging down EUR and global rates
NZD suffers collateral damage
US-China trade deal looks as unlikely as ever. NZD and NZ TWI probe fresh 4-year lows. US Treasury yields fall, rounding out another big week
23rd Sep 19, 7:36am
by Jason Wong
1
US-China trade deal looks as unlikely as ever. NZD and NZ TWI probe fresh 4-year lows. US Treasury yields fall, rounding out another big week
NZD doesn't benefit from USD weakness
NZD dragged down by weak a AUD. GBP higher on positive Brexit vibe. US rates nudge lower
20th Sep 19, 7:57am
by Jason Wong
2
NZD dragged down by weak a AUD. GBP higher on positive Brexit vibe. US rates nudge lower
US Fed cut “insurance” against the risks
US Fed seen as more hawkish than market expectations. USD and US rates higher post FOMC announcement and Powell press conference. NZD underperforms ahead of Q2 GDP today
19th Sep 19, 7:57am
by Jason Wong
US Fed seen as more hawkish than market expectations. USD and US rates higher post FOMC announcement and Powell press conference. NZD underperforms ahead of Q2 GDP today
Dislocation in US money markets
Oil prices down over 6% as Saudi production back up. USD reverses course, seeing NZD and AUD recover yesterday’s losses. UST yields lower
18th Sep 19, 7:56am
by Jason Wong
1
Oil prices down over 6% as Saudi production back up. USD reverses course, seeing NZD and AUD recover yesterday’s losses. UST yields lower
Markets focus on impacts of oil attack
Oil prices surge 14%. NZD falls below 0.6350 as safe haven currencies outperform. Global equities and rates push lower
17th Sep 19, 7:46am
by Jason Wong
Oil prices surge 14%. NZD falls below 0.6350 as safe haven currencies outperform. Global equities and rates push lower
NZD inexplicably weak
Global bond rates continue to climb significantly higher. NZD falls, even as yuan and AUD strengthen. GBP up over 1% on soft or delayed Brexit vibe. Oil prices to rise significantly as Saudi oil production facilities attacked
16th Sep 19, 8:09am
by Jason Wong
3
Global bond rates continue to climb significantly higher. NZD falls, even as yuan and AUD strengthen. GBP up over 1% on soft or delayed Brexit vibe. Oil prices to rise significantly as Saudi oil production facilities attacked
Chunky gains after positive trade signals and better data
The NZD and AUD have sustained their gains, while GBP continues its recovery on Brexit optimism. A big bond market sell-off, with UST yields up over 10 bps across the curve on trade signals
6th Sep 19, 7:52am
by Jason Wong
The NZD and AUD have sustained their gains, while GBP continues its recovery on Brexit optimism. A big bond market sell-off, with UST yields up over 10 bps across the curve on trade signals
USD weak despite risk-on mood
Risk appetite has improved after the reduction in some geopolitical risks, with better news out of Hong Kong, Italy and the UK. The USD has shown broadly based falls, following the very weak ISM manufacturing report
5th Sep 19, 8:06am
by Jason Wong
Risk appetite has improved after the reduction in some geopolitical risks, with better news out of Hong Kong, Italy and the UK. The USD has shown broadly based falls, following the very weak ISM manufacturing report
Market moving shocker
US equities, rates and the USD are much lower following a weak ISM manufacturing report. The NZD has recovered over half a cent from its low point yesterday afternoon to trade about 0.6325
4th Sep 19, 7:59am
by Jason Wong
6
US equities, rates and the USD are much lower following a weak ISM manufacturing report. The NZD has recovered over half a cent from its low point yesterday afternoon to trade about 0.6325
Weaker outlook for global growth and commodity prices
China takes the US to WTO over tariff actions. Next Brexit move depends on parliamentary vote. NZD holds at its lower level. Eyes on RBA rate decision, then on dairy auction
3rd Sep 19, 7:52am
by Jason Wong
2
China takes the US to WTO over tariff actions. Next Brexit move depends on parliamentary vote. NZD holds at its lower level. Eyes on RBA rate decision, then on dairy auction
NZD hits four-year low
Hedging flow activity more influential than economic data on currencies. US data mixed. EUR under pressure. Canada stars. NZD weaker
2nd Sep 19, 8:08am
by Jason Wong
Hedging flow activity more influential than economic data on currencies. US data mixed. EUR under pressure. Canada stars. NZD weaker
CNY and NZD both under pressure
Markets see State banks coming to the aid of the Chinese currency. The NZD depreciates toward fair value. Eyes now turn to Powell's speech and assessments of his dovishness
23rd Aug 19, 7:52am
by Jason Wong
Markets see State banks coming to the aid of the Chinese currency. The NZD depreciates toward fair value. Eyes now turn to Powell's speech and assessments of his dovishness
NZD slips in listless market
US Fed minutes reveal dissent detail but no real surprises. Watchdog warns on 'unsustainable course' of US budget deficit. Bond rates with small upward bias. Merkel challenges Johnson on Irish border solution
22nd Aug 19, 7:57am
by Jason Wong
1
US Fed minutes reveal dissent detail but no real surprises. Watchdog warns on 'unsustainable course' of US budget deficit. Bond rates with small upward bias. Merkel challenges Johnson on Irish border solution
Europe risk drives markets
The EU's fourth largest economy plunged into political chaos again. EU mulls Brexit position. Global equities fall and global rates reverse. Investors pare positions with sovereign debt
21st Aug 19, 7:53am
by Jason Wong
The EU's fourth largest economy plunged into political chaos again. EU mulls Brexit position. Global equities fall and global rates reverse. Investors pare positions with sovereign debt