Jason Wong | interest.co.nz

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 3 months

Latest articles

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

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

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

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

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

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

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

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

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

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

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

NZD tracking sideways

GBP up on political movements and new fiscal stimulus-friendly Chancellor. More caution on COVID-19 as number of reported cases jumps. NZD and AUD on the soft side while EUR continues to slide

14th Feb 20, 7:49am

by Jason Wong

GBP up on political movements and new fiscal stimulus-friendly Chancellor. More caution on COVID-19 as number of reported cases jumps. NZD and AUD on the soft side while EUR continues to slide

Hawkish RBNZ pushes Kiwi up 1%

NZD gains post RBNZ MPS but no further progress overnight. Global rates push higher; NZ rates up 10bps or so. EUR remains under pressure

13th Feb 20, 7:54am

by Jason Wong

NZD gains post RBNZ MPS but no further progress overnight. Global rates push higher; NZ rates up 10bps or so. EUR remains under pressure

Near term risks add modest caution

Less fear over coronavirus as rate of increase in cases subsides. US equities up to fresh record; global rates nudge higher. NZD and AUD better bid while safe haven currencies underperform

12th Feb 20, 7:53am

by Jason Wong

Less fear over coronavirus as rate of increase in cases subsides. US equities up to fresh record; global rates nudge higher. NZD and AUD better bid while safe haven currencies underperform

NZD hostage to global forces

NZD continues to drift lower on coronavirus fears. US 10-year rate down as well. US equities unperturbed

11th Feb 20, 8:01am

by Jason Wong

NZD continues to drift lower on coronavirus fears. US 10-year rate down as well. US equities unperturbed

NZD falls as coronavirus rises

Spreading coronavirus remains the key market focus. NZD and AUD fall to fresh lows for the year. UST yields turn back down despite robust employment report

10th Feb 20, 7:46am

by Jason Wong

Spreading coronavirus remains the key market focus. NZD and AUD fall to fresh lows for the year. UST yields turn back down despite robust employment report