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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 pushes back up through the 0.60 mark
More dire economic data, but largely ignored. Commodity currencies recover, with higher oil prices noted. EUR weak as EU can’t (yet) agree on a recovery package
24th Apr 20, 7:56am
by Jason Wong
More dire economic data, but largely ignored. Commodity currencies recover, with higher oil prices noted. EUR weak as EU can’t (yet) agree on a recovery package
NZD sinks in risk-off mood
Further oil market turmoil impacts risk sentiment. Chunky falls in equities; USTs and USD well supported. RBNZ offers more support to the economy
22nd Apr 20, 7:57am
by Jason Wong
Further oil market turmoil impacts risk sentiment. Chunky falls in equities; USTs and USD well supported. RBNZ offers more support to the economy
NZD weaker for the week
Another strong rally in equity markets on hope for the future. USD under pressure sees NZD back above 0.60. NZ short end rates down to record lows while curve steepens
20th Apr 20, 7:58am
by Jason Wong
Another strong rally in equity markets on hope for the future. USD under pressure sees NZD back above 0.60. NZ short end rates down to record lows while curve steepens
A reality check sets in
Dire US economic data helps trigger a reality check. US equities, US rates lower; USD in strong demand. NZD slips back below 0.60
16th Apr 20, 7:57am
by Jason Wong
Dire US economic data helps trigger a reality check. US equities, US rates lower; USD in strong demand. NZD slips back below 0.60
USD weaker across the board
AUD and NZD up strongly from pre-Easter levels. Following Fed announcement of further extraordinary policy measures US equities weaker ahead of earnings season
14th Apr 20, 7:38am
by Jason Wong
2
AUD and NZD up strongly from pre-Easter levels. Following Fed announcement of further extraordinary policy measures US equities weaker ahead of earnings season
NZD rises as USD under pressure
Hope on COVID-19 outlook drives further improvement in risk sentiment. USD under pressure; AUD higher on RBA “tapering”; NZD rallies as well. Higher government rates across the board
8th Apr 20, 8:01am
by Jason Wong
Hope on COVID-19 outlook drives further improvement in risk sentiment. USD under pressure; AUD higher on RBA “tapering”; NZD rallies as well. Higher government rates across the board
NZD dips to fresh lows
Oil prices surge ahead on hope of production cuts. USD rises further, sending NZD and AUD down to fresh lows for the week. RBNZ ramps up QE this week and signals openness to expand scope of program
6th Apr 20, 8:11am
by Jason Wong
Oil prices surge ahead on hope of production cuts. USD rises further, sending NZD and AUD down to fresh lows for the week. RBNZ ramps up QE this week and signals openness to expand scope of program
Fast receding risk appetites hurt the NZD
A bad start to Q2 for risk assets. NZ bond market underperforms as issuance program ramps up. NZD goes sub-0.59 overnight
2nd Apr 20, 7:54am
by Jason Wong
1
A bad start to Q2 for risk assets. NZ bond market underperforms as issuance program ramps up. NZD goes sub-0.59 overnight
Stronger USD sees NZD slip below 0.60
Equities markets start the week on a positive note, even in the face of some dire economic data. New policies to support growth continue to be announced
31st Mar 20, 7:49am
by Jason Wong
1
Equities markets start the week on a positive note, even in the face of some dire economic data. New policies to support growth continue to be announced
'Boldness' in the face of crisis
Global equities up for the third day running as central banks and governments show policy support. USD under pressure as risk sentiment improves. NZD, AUD and GBP all more than 2% higher overnight
27th Mar 20, 7:56am
by Jason Wong
2
Global equities up for the third day running as central banks and governments show policy support. USD under pressure as risk sentiment improves. NZD, AUD and GBP all more than 2% higher overnight
RBNZ begins large scale asset purchases
Global equities stage another strong rally on US fiscal package. USD on the back foot on higher risk appetite. NZD little changed from NZ close
26th Mar 20, 7:56am
by Jason Wong
Global equities stage another strong rally on US fiscal package. USD on the back foot on higher risk appetite. NZD little changed from NZ close
NZD higher yesterday but flat overnight
Big leap in risk appetite drives equity markets higher. Hope for US lawmakers to sign off on large fiscal package. Global rates higher. USD under pressure as financial market stress eases
25th Mar 20, 7:48am
by Jason Wong
1
Big leap in risk appetite drives equity markets higher. Hope for US lawmakers to sign off on large fiscal package. Global rates higher. USD under pressure as financial market stress eases
Weak NZD responds with rise on US Fed moves
Fed takes central bank policy to its limit with new initiatives. But US equities weaker anyway, while USTs supported. Fed announcement sees NZD recover overnight. RBNZ QE policy drives NZ rates down significantly
24th Mar 20, 8:00am
by Jason Wong
Fed takes central bank policy to its limit with new initiatives. But US equities weaker anyway, while USTs supported. Fed announcement sees NZD recover overnight. RBNZ QE policy drives NZ rates down significantly
NZD softer
US equities under pressure again. Upward trend in USTs broken, a sign that central banks have more control. Governments step up, or look to step up, on fiscal support packages
23rd Mar 20, 7:51am
by Jason Wong
US equities under pressure again. Upward trend in USTs broken, a sign that central banks have more control. Governments step up, or look to step up, on fiscal support packages
NZD falling and at risk of more steep declines
Markets in turmoil as a deep global recession comes into play. Global equities plunge, even as Fed begins QE4. Wide ranges in USTs and currencies. Demand for USD liquidity sees USD soar
13th Mar 20, 7:42am
by Jason Wong
21
Markets in turmoil as a deep global recession comes into play. Global equities plunge, even as Fed begins QE4. Wide ranges in USTs and currencies. Demand for USD liquidity sees USD soar
NZD well supported
US equities plunge on disappointing policy response. UK and euro-area policy makers look more alert – BoE does intra-meeting 50bps cut. Bond curves steeper. NZD settles around 0.63
12th Mar 20, 7:42am
by Jason Wong
US equities plunge on disappointing policy response. UK and euro-area policy makers look more alert – BoE does intra-meeting 50bps cut. Bond curves steeper. NZD settles around 0.63
NZD under pressure again
Choppy markets, but equities and rates higher. USD rebounds, NZD back on its way down. Governor Orr pushes back on knee-jerk interest rate cuts
11th Mar 20, 7:48am
by Jason Wong
Choppy markets, but equities and rates higher. USD rebounds, NZD back on its way down. Governor Orr pushes back on knee-jerk interest rate cuts
NZD dumped, then recovers sharply
Oil price plunge causes carnage across markets; Fears of GFC II. Global equities down 5-10%; UST yields down below 0.5%. JPY the preeminent safe-haven
10th Mar 20, 7:58am
by Jason Wong
1
Oil price plunge causes carnage across markets; Fears of GFC II. Global equities down 5-10%; UST yields down below 0.5%. JPY the preeminent safe-haven
US-NZ interest rate differentials plunge
Markets in panic mode on Friday. Rates down to record lows; VIX up through 50. Weaker USD helps support NZD. Oil prices slump and price war will see a further slump today
9th Mar 20, 7:56am
by Jason Wong
Markets in panic mode on Friday. Rates down to record lows; VIX up through 50. Weaker USD helps support NZD. Oil prices slump and price war will see a further slump today
Exuberance turns to despair
Risk sentiment sours. US equities dive; UST 10s go sub 0.90%. Safe haven currencies supported but NZD steady at 0.63, AUD weaker
6th Mar 20, 7:49am
by Jason Wong
4
Risk sentiment sours. US equities dive; UST 10s go sub 0.90%. Safe haven currencies supported but NZD steady at 0.63, AUD weaker
Economic data takes backseat to virus fears
More chunky falls in global equities and global rates on COVID-19 spread. NZD and AUD supported as USD takes a hit. EUR recovers further; GBP under pressure on UK-EU trade talk
28th Feb 20, 7:51am
by Jason Wong
More chunky falls in global equities and global rates on COVID-19 spread. NZD and AUD supported as USD takes a hit. EUR recovers further; GBP under pressure on UK-EU trade talk
NZD under pressure
Fear factor on COVID-19 dissipates a little. But market still trading cautiously. AUD reaches fresh low; NZD goes sub 0.63
27th Feb 20, 7:56am
by Jason Wong
Fear factor on COVID-19 dissipates a little. But market still trading cautiously. AUD reaches fresh low; NZD goes sub 0.63
The NZD gets some support
Further falls in global equities and rates. UST10s probe a record low as Fed easing expectations heighten. NZD and AUD well contained; JPY and GBP stronger
26th Feb 20, 7:42am
by Jason Wong
Further falls in global equities and rates. UST10s probe a record low as Fed easing expectations heighten. NZD and AUD well contained; JPY and GBP stronger
Currencies get off easier than equities or bonds
Market fallout from COVID-19 steps up as virus spreads globally. Equities and global rates plunge. NZD resilient at 0.6350 while JPY favoured
25th Feb 20, 7:51am
by Jason Wong
2
Market fallout from COVID-19 steps up as virus spreads globally. Equities and global rates plunge. NZD resilient at 0.6350 while JPY favoured
Global virus spread triggers risk pullback
Market alarmed by the global spread of COVID-19. US equities down over 1%; US long bond rate hits record low; USD weaker on poor PMI print. NZD and AUD recover from lows
24th Feb 20, 7:43am
by Jason Wong
2
Market alarmed by the global spread of COVID-19. US equities down over 1%; US long bond rate hits record low; USD weaker on poor PMI print. NZD and AUD recover from lows