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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

Lots of noise, not much net change
Despite volatility, major currencies are little changed from pre-Xmas levels. NZD and AUD lower early-2020, reversing late-2019 strength. NZ and US rates lower so far in 2020
by Jason Wong
Despite volatility, major currencies are little changed from pre-Xmas levels. NZD and AUD lower early-2020, reversing late-2019 strength. NZ and US rates lower so far in 2020
NZD has upside risk
Global rates higher; US yield curve steeper. CAD stronger after CPI; GBP softens further. BoE, BOJ ahead; and NZ GDP and Australian employment data out today
by Jason Wong
Global rates higher; US yield curve steeper. CAD stronger after CPI; GBP softens further. BoE, BOJ ahead; and NZ GDP and Australian employment data out today
NZ commodity prices peaking?
GBP slumps as no-deal Brexit risk increases again. NZD and AUD weakness not entirely explainable. Other market movements little changed
by Jason Wong
GBP slumps as no-deal Brexit risk increases again. NZD and AUD weakness not entirely explainable. Other market movements little changed
Trade deal imminent?
US equities higher, chunky selloff in US treasuries. Stronger USD holds back NZD; AUD breaks 0.69. UK goes to the polls
by Jason Wong
US equities higher, chunky selloff in US treasuries. Stronger USD holds back NZD; AUD breaks 0.69. UK goes to the polls
Baton passed from NZ monetary to fiscal policy
NZD, AUD higher overnight alongside EM currencies. USD, US rates slightly lower ahead of FOMC announcement
by Jason Wong
NZD, AUD higher overnight alongside EM currencies. USD, US rates slightly lower ahead of FOMC announcement
NZD challenges AUD
More trade war headlines, but we’re still none the wiser. NZD, AUD slip a little overnight. NZ fiscal update today to show a “significant” easing, larger bond program
by Jason Wong
4
More trade war headlines, but we’re still none the wiser. NZD, AUD slip a little overnight. NZ fiscal update today to show a “significant” easing, larger bond program
Future sees local fiscal stimulus, extra bond supply and RBNZ on hold
A quiet start to the week with the key events all near the end of the week. There has been little change in equities, global rates, currencies. NZ rates up to 5-month highs
by Jason Wong
A quiet start to the week with the key events all near the end of the week. There has been little change in equities, global rates, currencies. NZ rates up to 5-month highs
NZD well-supported with positive risk assessment
Mood-music on trade deal positive after Bloomberg report. US equities recover and bond rates higher. The NZD touches fresh multi-month high but GBP and CAD lead the way
by Jason Wong
Mood-music on trade deal positive after Bloomberg report. US equities recover and bond rates higher. The NZD touches fresh multi-month high but GBP and CAD lead the way
NZD holds up above 0.65
Trump’s comments on US-China trade deal under scrutiny, sending US equities down 1%. UST10s down 12bps. USD soft
by Jason Wong
2
Trump’s comments on US-China trade deal under scrutiny, sending US equities down 1%. UST10s down 12bps. USD soft
BNZ FX strategist struggles to stay awake at work
Quiet trading conditions with US on holiday. NZD stuck in a tight range even though the run of positive NZ data continues
by Jason Wong
2
Quiet trading conditions with US on holiday. NZD stuck in a tight range even though the run of positive NZ data continues
Aussie dollar moves lower
US data supports positive risk appetite. NZD/USD flat but NZD/JPY continues to nudge higher. GBP up ahead of key YouGov poll
by Jason Wong
US data supports positive risk appetite. NZD/USD flat but NZD/JPY continues to nudge higher. GBP up ahead of key YouGov poll
NZD stays up after buoyant retail sales data
Market ignores trade news headlines. Currencies in well-contained ranges. Global rates tick lower
by Jason Wong
Market ignores trade news headlines. Currencies in well-contained ranges. Global rates tick lower
NZD upside hampered by global risks
Positive newsflow supports equities but UST yields and commodity currencies slip regardless. The GBP nudges higher on polling ahead of UK election
by Jason Wong
Positive newsflow supports equities but UST yields and commodity currencies slip regardless. The GBP nudges higher on polling ahead of UK election
TGIM
EUR and GBP weaker on soft PMIs. US data relatively stronger. NZD flat; tight range maintained through the week
by Jason Wong
EUR and GBP weaker on soft PMIs. US data relatively stronger. NZD flat; tight range maintained through the week
A risk-off market tone sees commodity currencies weaker
A run of weaker global economic data sees both the AUD and NZD underperform and a decent rally in US treasuries
by Jason Wong
1
A run of weaker global economic data sees both the AUD and NZD underperform and a decent rally in US treasuries
NZD holds its move higher
NZD sustains move higher post RBNZ’s on-hold decision. NZD rates up 10-15bps. Global rates head lower
by Jason Wong
NZD sustains move higher post RBNZ’s on-hold decision. NZD rates up 10-15bps. Global rates head lower
A 'futile' rate cut won't change much
NZD back to where it began the week with markets a little more confident in a rate cut today. Little overnight news to drive directions
by Jason Wong
9
NZD back to where it began the week with markets a little more confident in a rate cut today. Little overnight news to drive directions
NZD suffers from nerves ahead of the MPS
GBP higher as Brexit Party won’t contest all electorates. NZD higher after last week’s inexplicable underperformance and ripe for further gains as model flashes “cheap”
by Jason Wong
GBP higher as Brexit Party won’t contest all electorates. NZD higher after last week’s inexplicable underperformance and ripe for further gains as model flashes “cheap”
NZD down to a 3-week low
Optimism on trade deal hosed down by Trump. But US equities, US rates and USD rise regardless. China trade data better than expected
by Jason Wong
Optimism on trade deal hosed down by Trump. But US equities, US rates and USD rise regardless. China trade data better than expected
The NZD doesn't catch global optimism wave
Further optimism on trade deal, with possible tariff roll-backs. Drives US equities to fresh record and a chunky US bond market sell-off. NZD unmoved on the higher risk appetite, despite gains for AUD, CNY
by Jason Wong
Further optimism on trade deal, with possible tariff roll-backs. Drives US equities to fresh record and a chunky US bond market sell-off. NZD unmoved on the higher risk appetite, despite gains for AUD, CNY
NZD slightly lower
Possible delay to trade deal signing. Sends US rates, NZD down to bottom of ranges. Unquestionable NZ domestic inflation pulse.
by Jason Wong
2
Possible delay to trade deal signing. Sends US rates, NZD down to bottom of ranges. Unquestionable NZ domestic inflation pulse.
NZD now below fair value
US-China trade deal optimism; Stronger US ISM non-manufacturing index see higher US rates and USD. NZD weaker despite positive news, ahead of key labour market data
by Jason Wong
1
US-China trade deal optimism; Stronger US ISM non-manufacturing index see higher US rates and USD. NZD weaker despite positive news, ahead of key labour market data
New Zealand dollar is the worst performer
NZD, AUD, GBP underperform. Early UK election called, but Boris needs a 2/3rds majority to push through. Rates drift lower
by Jason Wong
6
NZD, AUD, GBP underperform. Early UK election called, but Boris needs a 2/3rds majority to push through. Rates drift lower
NZD trends higher
Quiet overnight trading. GBP steady after falling yesterday morning post Brexit votes. NZD drifts up overnight; NZ rates reverse course
by Jason Wong
Quiet overnight trading. GBP steady after falling yesterday morning post Brexit votes. NZD drifts up overnight; NZ rates reverse course
Short trading limits NZD upside
Little action in markets ahead of Brexit votes at 7am and 7:30am NZ time. The NZD slips overnight after some modest upside yesterday. NZ rates continue to track higher
by Jason Wong
Little action in markets ahead of Brexit votes at 7am and 7:30am NZ time. The NZD slips overnight after some modest upside yesterday. NZ rates continue to track higher