sign up log in
Want to go ad-free? Find out how, here.

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

USD back under pressure after recent unconvincing rally
Global PMI data consistent with economic recovery supporting risk assets. NZD up through 0.65. Bond issuance update and RBNZ OCR review due later
24th Jun 20, 7:52am
by Jason Wong
1
Global PMI data consistent with economic recovery supporting risk assets. NZD up through 0.65. Bond issuance update and RBNZ OCR review due later
NZD dragged down
Risk off tone overnight. GBP lower as BoE stimulus not seen to be enough. NZD and AUD weaker as USD strengthens
19th Jun 20, 7:44am
by Jason Wong
Risk off tone overnight. GBP lower as BoE stimulus not seen to be enough. NZD and AUD weaker as USD strengthens
Risk appetite bolsters NZD
Risk appetite turns positive after yesterday’s move lower. NZD and AUD show decent recoveries overnight. Fed to buy individual corporate bonds, supporting market sentiment
16th Jun 20, 7:53am
by Jason Wong
1
Risk appetite turns positive after yesterday’s move lower. NZD and AUD show decent recoveries overnight. Fed to buy individual corporate bonds, supporting market sentiment
NZD level all to do with risk appetites
Choppy US trading session Friday, but overall, risk appetite higher after Thursday’s plunge. NZD and AUD push higher
15th Jun 20, 7:37am
by Jason Wong
Choppy US trading session Friday, but overall, risk appetite higher after Thursday’s plunge. NZD and AUD push higher
Reality check: risk assets plunge
US equities down over -5%, UST10s rally. NZD down -1.7%, AUD down over -2% in sharp correction
12th Jun 20, 7:49am
by Jason Wong
US equities down over -5%, UST10s rally. NZD down -1.7%, AUD down over -2% in sharp correction
Weaker greenback boosts the Kiwi
Fed stimulus to remain at full-throttle. Sees US 10-year lower, dragging USD down. NZD and AUD print fresh multi-month highs
11th Jun 20, 7:44am
by Jason Wong
Fed stimulus to remain at full-throttle. Sees US 10-year lower, dragging USD down. NZD and AUD print fresh multi-month highs
A profit-taking breather
Mixed markets, some profit taking evident. NZD and AUD retreat after posting fresh highs yesterday. US curve steepening gives way to curve flattening
10th Jun 20, 7:49am
by Jason Wong
Mixed markets, some profit taking evident. NZD and AUD retreat after posting fresh highs yesterday. US curve steepening gives way to curve flattening
COVID19-free status helps NZD
NZD, AUD push higher as USD remains under pressure. JPY also stronger. Global rates nudge lower. No fresh news to derail equity markets
9th Jun 20, 7:45am
by Jason Wong
NZD, AUD push higher as USD remains under pressure. JPY also stronger. Global rates nudge lower. No fresh news to derail equity markets
NZD pushes on higher
US jobs data a shocker, 10m better than expected, sees further extension of global equity market rally and bond market selloff. NZD and AUD extended gains ahead of the report to fresh highs
8th Jun 20, 7:53am
by Jason Wong
US jobs data a shocker, 10m better than expected, sees further extension of global equity market rally and bond market selloff. NZD and AUD extended gains ahead of the report to fresh highs
NZD upgraded
EUR buoyed by increased policy easing. USD still under pressure; NZD and AUD print fresh highs. Global rates track higher, even as equities take a breather
5th Jun 20, 7:55am
by Jason Wong
2
EUR buoyed by increased policy easing. USD still under pressure; NZD and AUD print fresh highs. Global rates track higher, even as equities take a breather
Currency traders back the global economic recovery story.
NZD and AUD make further decent gains against a backdrop where investors are backing a global macro recovery. Rates market well-contained by central bank policies
3rd Jun 20, 7:56am
by Jason Wong
2
NZD and AUD make further decent gains against a backdrop where investors are backing a global macro recovery. Rates market well-contained by central bank policies
NZD affected by US-China tensions
US-China and China-Australia tensions in the spotlight, dragging down NZD and AUD from recent highs. US equities unperturbed. EUR supported by fiscal plan but not a done deal
28th May 20, 7:55am
by Jason Wong
US-China and China-Australia tensions in the spotlight, dragging down NZD and AUD from recent highs. US equities unperturbed. EUR supported by fiscal plan but not a done deal
Risk sentiment shoots higher
Economies reopen as vaccine development hopes rise. USD a lot lower and NZD up 2% to break up through resistance. Global and NZ rates higher
27th May 20, 7:52am
by Jason Wong
Economies reopen as vaccine development hopes rise. USD a lot lower and NZD up 2% to break up through resistance. Global and NZ rates higher
China moves to reassure Hong Kong investors
Market holidays see quiet trading conditions. European equities higher and S&P futures up 1.2% as economies reopen. China tries to ease concern on new Hong Kong security law
26th May 20, 7:38am
by Jason Wong
Market holidays see quiet trading conditions. European equities higher and S&P futures up 1.2% as economies reopen. China tries to ease concern on new Hong Kong security law
Risk sentiment is positive again
NZD and AUD push higher, driven by better risk sentiment. Governor Orr hoses down imminent move to a negative OCR
21st May 20, 7:53am
by Jason Wong
NZD and AUD push higher, driven by better risk sentiment. Governor Orr hoses down imminent move to a negative OCR
The NZD benefits from a rising risk appetite
Higher risk appetite evident in currency markets. NZD up more than 1%; breaks 0.61. RBNZ offers more clarity on policy guidance
20th May 20, 8:04am
by Jason Wong
Higher risk appetite evident in currency markets. NZD up more than 1%; breaks 0.61. RBNZ offers more clarity on policy guidance
Kiwi dollar rebounds
Strong rebound in risk appetite. Vaccine hopes, lockdowns ease, EU Recovery Fund a step closer. Global equities up 3-4%, higher global rates. NZD and AUD show decent rises
19th May 20, 7:56am
by Jason Wong
Strong rebound in risk appetite. Vaccine hopes, lockdowns ease, EU Recovery Fund a step closer. Global equities up 3-4%, higher global rates. NZD and AUD show decent rises
Politics buffets the currency markets
A larger NZ fiscal easing puts upward pressure on long-term rates. NZD bid higher, but stronger USD overnight takes it back down. US-China relations continue to sour
15th May 20, 8:11am
by Jason Wong
1
A larger NZ fiscal easing puts upward pressure on long-term rates. NZD bid higher, but stronger USD overnight takes it back down. US-China relations continue to sour
NZD lower across the board, with most damage done yesterday
Fed Chair Powell pushes back on negative rates; market ignores it. RBNZ doesn’t push back on negative rates; market embraces it. NZ rates down to record low
14th May 20, 7:52am
by Jason Wong
Fed Chair Powell pushes back on negative rates; market ignores it. RBNZ doesn’t push back on negative rates; market embraces it. NZ rates down to record low
All eyes on Adrian Orr
A more cautious tone overnight. Global rates lower, but NZD and AUD recover a little. Focus on RBNZ MPS this afternoon
13th May 20, 7:52am
by Jason Wong
1
A more cautious tone overnight. Global rates lower, but NZD and AUD recover a little. Focus on RBNZ MPS this afternoon
NZD lacks support
USD rebounds, dragging NZD and AUD more than 1% down. US rates higher, NZ rates remain suppressed. Further surprise oil production cuts but prices fall regardless
12th May 20, 7:56am
by Jason Wong
USD rebounds, dragging NZD and AUD more than 1% down. US rates higher, NZ rates remain suppressed. Further surprise oil production cuts but prices fall regardless
Markets warm to re-opening hopes
Risk appetite back up driving equities higher. Supported by higher oil prices. EUR softer after German court raises red flag on ECB purchases. NZD nudges higher; Dairy prices weaker, but not as weak as expected
6th May 20, 7:56am
by Jason Wong
1
Risk appetite back up driving equities higher. Supported by higher oil prices. EUR softer after German court raises red flag on ECB purchases. NZD nudges higher; Dairy prices weaker, but not as weak as expected
RBNZ drags NZ rates down
NZ rates fall to record lows, driven by RBNZ QE. NZD underperforms against other commodity currencies. EUR weak ahead of German constitutional court decision tonight
5th May 20, 7:59am
by Jason Wong
6
NZ rates fall to record lows, driven by RBNZ QE. NZD underperforms against other commodity currencies. EUR weak ahead of German constitutional court decision tonight
NZD makes gains on the AUD
NZD holds up across a backdrop of weaker risk appetite. NZ rates fall to record low levels. NZD/AUD reverses course
1st May 20, 7:58am
by Jason Wong
NZD holds up across a backdrop of weaker risk appetite. NZ rates fall to record low levels. NZD/AUD reverses course
Sharp fall in NZ domestic interest rates
Strong recovery in NZD overnight after lower NZ rates drove it weaker yesterday. US equities see rotation into value/small caps. UST yields push lower overnight
29th Apr 20, 7:59am
by Jason Wong
5
Strong recovery in NZD overnight after lower NZ rates drove it weaker yesterday. US equities see rotation into value/small caps. UST yields push lower overnight