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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

10 years 8 months

Latest articles

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
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
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
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
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 
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
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
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
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
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
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
NZD generally weaker on the crosses
US equities surge despite, or because of, close election result. Biden likely to win, but Senate too close to call. US Treasuries cheer prospect of less out-of-control spending/debt. NZD volatile but flat at 0.67; mild USD weakness
by Jason Wong
US equities surge despite, or because of, close election result. Biden likely to win, but Senate too close to call. US Treasuries cheer prospect of less out-of-control spending/debt. NZD volatile but flat at 0.67; mild USD weakness
NZD higher on most key crosses
Strong risk rally on US election day. Market optimistically assumes a clear-cut, uncontested, result. US equities up 2%, UST10s yield at 4-month high; USD weaker NZD up through 0.67, but underperforms AUD despite RBA easing
by Jason Wong
Strong risk rally on US election day. Market optimistically assumes a clear-cut, uncontested, result. US equities up 2%, UST10s yield at 4-month high; USD weaker NZD up through 0.67, but underperforms AUD despite RBA easing
The NZD holds
Equities recover some of last week's hefty losses, ahead of US election. US 10-year rate also reverses course, down 3bps despite strong ISM report. Commodity currencies outperform
by Jason Wong
Equities recover some of last week's hefty losses, ahead of US election. US 10-year rate also reverses course, down 3bps despite strong ISM report. Commodity currencies outperform
Commodity currencies push lower
Concern about surge in COVID19 cases across the US and Europe. Global equities down around 3% ahead of new country-wide restrictions for France and Germany
by Jason Wong
Concern about surge in COVID19 cases across the US and Europe. Global equities down around 3% ahead of new country-wide restrictions for France and Germany
NZD surprisingly resilient
Cautious risk backdrop sees equity markets flat to down and global rates push lower. NZD/AUD sees fresh multi-month high
by Jason Wong
Cautious risk backdrop sees equity markets flat to down and global rates push lower. NZD/AUD sees fresh multi-month high
NZD higher on all the crosses
Positive talk on US fiscal stimulus supports US equities and drives US 10-year rate to fresh multi-month high. NZD outperforms for no obvious reason
by Jason Wong
1
Positive talk on US fiscal stimulus supports US equities and drives US 10-year rate to fresh multi-month high. NZD outperforms for no obvious reason
NZD makes gains against most majors
GBP outperforms as UK-EU trade talks to resume. NZD and AUD up strongly, recovering recent losses. USD weak and UST yields higher on US fiscal talk
by Jason Wong
GBP outperforms as UK-EU trade talks to resume. NZD and AUD up strongly, recovering recent losses. USD weak and UST yields higher on US fiscal talk
NZD gains back a little
US equities bounce back on little fresh news. NZD and AUD up slightly overnight after yesterday's losses after RBNZ and RBA maintain dovish overtones
by Jason Wong
US equities bounce back on little fresh news. NZD and AUD up slightly overnight after yesterday's losses after RBNZ and RBA maintain dovish overtones
NZD goes sub 0.60
New restrictions in London and France to contain spread of COVID19. US jobless claims rise. Equities fall and safe haven currencies outperform. Dovish RBA adds to weaker AUD profile
by Jason Wong
4
New restrictions in London and France to contain spread of COVID19. US jobless claims rise. Equities fall and safe haven currencies outperform. Dovish RBA adds to weaker AUD profile
Dovish RBNZ doesn't hurt the NZD
Cautious tone overhangs US equity market. GBP recovers, with UK-EU trade talks likely to continue for longer. NZD unperturbed by dovish RBNZ commentary. If anything, market losing the faith in extent of possible OCR fall next year
by Jason Wong
Cautious tone overhangs US equity market. GBP recovers, with UK-EU trade talks likely to continue for longer. NZD unperturbed by dovish RBNZ commentary. If anything, market losing the faith in extent of possible OCR fall next year
NZD well supported
Equity markets take on a more cautious tone as US earnings season begins. AUD slips further after yesterday's swoon after focus on China coal import ban. EUR and GBP soft with little progress on trade talks. US rates lower; US CPI shows very weak rents
by Jason Wong
Equity markets take on a more cautious tone as US earnings season begins. AUD slips further after yesterday's swoon after focus on China coal import ban. EUR and GBP soft with little progress on trade talks. US rates lower; US CPI shows very weak rents
NZD follows the yuan into softer territory
US equities ramp up further. Weaker CNY post-PBoC policy change drags down NZD and AUD. Further upside pressure in NZGB yields
by Jason Wong
1
US equities ramp up further. Weaker CNY post-PBoC policy change drags down NZD and AUD. Further upside pressure in NZGB yields
NZD continues its recovery
Mixed news on the US economy and stalemate on US fiscal negotiations. But US equities up regardless to begin Q4 on a positive note. GBP whippy on Brexit-related news. NZD leads the pack overnight; CNY well supported
by Jason Wong
Mixed news on the US economy and stalemate on US fiscal negotiations. But US equities up regardless to begin Q4 on a positive note. GBP whippy on Brexit-related news. NZD leads the pack overnight; CNY well supported
Commodity currencies rise
Stronger US data and fiscal stimulus hopes support risk assets. Commodity currencies outperform. US and NZ rates higher
by Jason Wong
Stronger US data and fiscal stimulus hopes support risk assets. Commodity currencies outperform. US and NZ rates higher
NZD shows further signs of recovery
More cautious tone to equity markets ahead of first US Presidential debate. NZD and AUD recover some of last week's hefty losses. Oil prices down 4%
by Jason Wong
1
More cautious tone to equity markets ahead of first US Presidential debate. NZD and AUD recover some of last week's hefty losses. Oil prices down 4%