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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 7 months

Latest articles

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
Rising sentiment boosts NZD and local rates
Brexit vote to be held tomorrow. Risk sentiment positive ahead of that and positive US-China trade vibe. Higher global rates and small outperformance for commodity currencies
by Jason Wong
Brexit vote to be held tomorrow. Risk sentiment positive ahead of that and positive US-China trade vibe. Higher global rates and small outperformance for commodity currencies
Large net short speculative positions in the NZD
Saturday humiliation for Australia, Ireland and Boris Johnson, but at least Boris has a chance to bounce back this week. NZD and AUD close at month-highs
by Jason Wong
Saturday humiliation for Australia, Ireland and Boris Johnson, but at least Boris has a chance to bounce back this week. NZD and AUD close at month-highs
The New Zealand dollar gains +1%
A fresh UK/EU Brexit deal but will it get through UK Parliament? GBP and UST10s spike up, but then fall back as opposition to deal evident. NZD and AUD outperform, both up 1%
by Jason Wong
4
A fresh UK/EU Brexit deal but will it get through UK Parliament? GBP and UST10s spike up, but then fall back as opposition to deal evident. NZD and AUD outperform, both up 1%
Data undermines more RBNZ rate cut prospects
Hopes for US-China détente and Brexit deal. Support risk appetite; Equities and rates higher. GBP up 1.8%; Mild support for NZD
by Jason Wong
3
Hopes for US-China détente and Brexit deal. Support risk appetite; Equities and rates higher. GBP up 1.8%; Mild support for NZD
NZD holds despite mixed data
China still keen on an interim trade deal. Such talk lifts US equities, rates. But currencies unmoved
by Jason Wong
China still keen on an interim trade deal. Such talk lifts US equities, rates. But currencies unmoved
The trade mood music is really bad
More bad news ahead of trade talks. Sees risk appetite sour. NZD back below 0.63. GBP weaker as Brexit deal looks impossible
by Jason Wong
4
More bad news ahead of trade talks. Sees risk appetite sour. NZD back below 0.63. GBP weaker as Brexit deal looks impossible
China turns tougher in trade war talks
Focus turns to key US-China trade talks. A quiet start to the week with the NZD, AUD, CNY on the soft side ahead of that
by Jason Wong
2
Focus turns to key US-China trade talks. A quiet start to the week with the NZD, AUD, CNY on the soft side ahead of that
NZD holds but local rates sink
US unemployment rate falls to 50-year low. Supports risk assets, although modest reaction for US rates, currencies. NZ rates fall to fresh record lows
by Jason Wong
US unemployment rate falls to 50-year low. Supports risk assets, although modest reaction for US rates, currencies. NZ rates fall to fresh record lows
Orr speech boosts NZD
US politics and trade war remain in focus. Modest risk off tone prevailing. But NZD gains after Orr speech yesterday
by Jason Wong
US politics and trade war remain in focus. Modest risk off tone prevailing. But NZD gains after Orr speech yesterday
NZD post OCR move higher fleeting
No smoking gun in Trump-Ukraine President transcript. US equities, rates and USD all higher. NZD underperforms slightly post RBNZ OCR Review
by Jason Wong
No smoking gun in Trump-Ukraine President transcript. US equities, rates and USD all higher. NZD underperforms slightly post RBNZ OCR Review
Americans expecting business conditions to worsen at a 6-year high
Impeachment of Trump on the agenda, soft US data sending US equities, US rates and USD lower. AUD and NZD supported by upbeat speech by RBA Governor Lowe, ahead of RBNZ OCR review today
by Jason Wong
3
Impeachment of Trump on the agenda, soft US data sending US equities, US rates and USD lower. AUD and NZD supported by upbeat speech by RBA Governor Lowe, ahead of RBNZ OCR review today
Lower European rates have dragged down US Treasury yields
NZD recovers some of last week’s losses. Euro area PMIs lurch down further, dragging down EUR and global rates
by Jason Wong
NZD recovers some of last week’s losses. Euro area PMIs lurch down further, dragging down EUR and global rates
NZD suffers collateral damage
US-China trade deal looks as unlikely as ever. NZD and NZ TWI probe fresh 4-year lows. US Treasury yields fall, rounding out another big week
by Jason Wong
1
US-China trade deal looks as unlikely as ever. NZD and NZ TWI probe fresh 4-year lows. US Treasury yields fall, rounding out another big week
NZD doesn't benefit from USD weakness
NZD dragged down by weak a AUD. GBP higher on positive Brexit vibe. US rates nudge lower
by Jason Wong
2
NZD dragged down by weak a AUD. GBP higher on positive Brexit vibe. US rates nudge lower
US Fed cut “insurance” against the risks
US Fed seen as more hawkish than market expectations. USD and US rates higher post FOMC announcement and Powell press conference. NZD underperforms ahead of Q2 GDP today
by Jason Wong
US Fed seen as more hawkish than market expectations. USD and US rates higher post FOMC announcement and Powell press conference. NZD underperforms ahead of Q2 GDP today
Dislocation in US money markets
Oil prices down over 6% as Saudi production back up. USD reverses course, seeing NZD and AUD recover yesterday’s losses. UST yields lower
by Jason Wong
1
Oil prices down over 6% as Saudi production back up. USD reverses course, seeing NZD and AUD recover yesterday’s losses. UST yields lower
Markets focus on impacts of oil attack
Oil prices surge 14%. NZD falls below 0.6350 as safe haven currencies outperform. Global equities and rates push lower
by Jason Wong
Oil prices surge 14%. NZD falls below 0.6350 as safe haven currencies outperform. Global equities and rates push lower
NZD inexplicably weak
Global bond rates continue to climb significantly higher. NZD falls, even as yuan and AUD strengthen. GBP up over 1% on soft or delayed Brexit vibe. Oil prices to rise significantly as Saudi oil production facilities attacked
by Jason Wong
3
Global bond rates continue to climb significantly higher. NZD falls, even as yuan and AUD strengthen. GBP up over 1% on soft or delayed Brexit vibe. Oil prices to rise significantly as Saudi oil production facilities attacked