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

8 years 3 months

Latest articles

Pause in bond selloff

Draghi goes out of his way to say the ECB isn't done yet with monetary accommodation. US markets have more than one Fed hike priced in as housing markest improve

23rd Nov 16, 8:16am

by Jason Wong

Draghi goes out of his way to say the ECB isn't done yet with monetary accommodation. US markets have more than one Fed hike priced in as housing markest improve

USD takes a break

Some gloss comes off USD rise; record high for S&P500; commodity currencies best performers; NZD/AUD probes 96c level

22nd Nov 16, 8:36am

by Jason Wong

Some gloss comes off USD rise; record high for S&P500; commodity currencies best performers; NZD/AUD probes 96c level

Politics strain markets

Fed's Fischer warns of limits to expanding the US fiscal deficit without 'consequences'. EU political stresses move into focus

22nd Nov 16, 7:59am

by Jason Wong

Fed's Fischer warns of limits to expanding the US fiscal deficit without 'consequences'. EU political stresses move into focus

Greenback grinds higher

Currency markets still coming to terms with the Trump world-view. Local strength from higher milk payout, rising confidence, higher retail means NZD gets hit less

21st Nov 16, 8:13am

by Jason Wong

Currency markets still coming to terms with the Trump world-view. Local strength from higher milk payout, rising confidence, higher retail means NZD gets hit less

'More debt, higher inflation, and tighter monetary policy'

New Zealand gets a "good old-fashioned bond selloff" and swaps get significant bear-steepening, following sharp changes on Wall Street

21st Nov 16, 8:01am

by Jason Wong

New Zealand gets a "good old-fashioned bond selloff" and swaps get significant bear-steepening, following sharp changes on Wall Street

Conciliatory tone from Trump turns markets

Trump curve-ball creates more uncertainty for markets; NZD/USD sold off, but could rebound on RBNZ statement; US stock markets up

10th Nov 16, 8:09am

by Jason Wong

Trump curve-ball creates more uncertainty for markets; NZD/USD sold off, but could rebound on RBNZ statement; US stock markets up

Expect local rates to rise and steepen

If the RBNZ cuts the OCR today, that will only tone down the market rises in interest rates which seem unavoidable. Trump win sets up a more hawkish US Fed

10th Nov 16, 8:00am

by Jason Wong

If the RBNZ cuts the OCR today, that will only tone down the market rises in interest rates which seem unavoidable. Trump win sets up a more hawkish US Fed

NZD at 5 week high

Volatility rises, oil lower again, worries over Trump threats unabated. GDP gets 'triple whammy of good news'

4th Nov 16, 8:27am

by Jason Wong

Volatility rises, oil lower again, worries over Trump threats unabated. GDP gets 'triple whammy of good news'

Global rates rise

Eyes on US non-farm payrolls. Expected RBNZ rate cut will be the last, says market pricing. UK moves from an easing to neutral bias

4th Nov 16, 7:59am

by Jason Wong

Eyes on US non-farm payrolls. Expected RBNZ rate cut will be the last, says market pricing. UK moves from an easing to neutral bias

Fed closer to pulling the trigger

NZD claims 'best performer' status on run of good economic data. US Fed statement moves markets very little. AUD and CAD struggle

3rd Nov 16, 8:13am

by Jason Wong

NZD claims 'best performer' status on run of good economic data. US Fed statement moves markets very little. AUD and CAD struggle

Global risk off

US Fed leaves rates unchanged, signals December hike. NZ rates rise on strong labour market report, in contrast to other markets where wholesale rates fell

3rd Nov 16, 7:49am

by Jason Wong

US Fed leaves rates unchanged, signals December hike. NZ rates rise on strong labour market report, in contrast to other markets where wholesale rates fell

US dollar weaker

NZD drifts lower despite bumper dairy auction. RBA decision a non-event. EUR a ley beneficiary of weaker greenback. Volatility rising

2nd Nov 16, 8:06am

by Jason Wong

NZD drifts lower despite bumper dairy auction. RBA decision a non-event. EUR a ley beneficiary of weaker greenback. Volatility rising

Horror October extends into November

Rising yields cut bond prices. Local eyes on HLFS and inflation expectations. US Fed will stay quiet during election campaign

2nd Nov 16, 7:51am

by Jason Wong

Rising yields cut bond prices. Local eyes on HLFS and inflation expectations. US Fed will stay quiet during election campaign

Greenback hits selling pressure

USD up as oil falls as producers can't agree on output cuts. Carney to stay at BofE. BofJ policy not working

1st Nov 16, 8:10am

by Jason Wong

USD up as oil falls as producers can't agree on output cuts. Carney to stay at BofE. BofJ policy not working

Bonds bashed

Bond prices fall as yields rise everywhere except Japan. Global inflation pressure picking up. Easier fiscal policies contemplated

1st Nov 16, 8:01am

by Jason Wong

Bond prices fall as yields rise everywhere except Japan. Global inflation pressure picking up. Easier fiscal policies contemplated

Greenback hits selling pressure

USD takes a hit from political turmoil, EUR and NZD benefit. Strong US GDP result suffered from underlying picture

31st Oct 16, 8:27am

by Jason Wong

USD takes a hit from political turmoil, EUR and NZD benefit. Strong US GDP result suffered from underlying picture

A pause for breath

Benchmark rates rise, then fall on Clinton email news. NZ yield curve steeper. Eyes on four central bank reviews. Flood of data due

31st Oct 16, 7:53am

by Jason Wong

Benchmark rates rise, then fall on Clinton email news. NZ yield curve steeper. Eyes on four central bank reviews. Flood of data due

USD hits 7-month high

Strong USD and bond market sell-off are key themes; AUD fares worst of commodity currencies; Yen and GBP tracking lower

28th Oct 16, 8:06am

by Jason Wong

Strong USD and bond market sell-off are key themes; AUD fares worst of commodity currencies; Yen and GBP tracking lower

Yields push higher, steeper

Bonds sold off globally. Good UK growth a trigger. German rates rise to 5 month high. Eyes on US Q3 GDP, with 'whisper' it could surprise stronger

28th Oct 16, 7:50am

by Jason Wong

Bonds sold off globally. Good UK growth a trigger. German rates rise to 5 month high. Eyes on US Q3 GDP, with 'whisper' it could surprise stronger

AUD runs out of puff

Australian dollar gains after better CPI not sustained; USD ticks higher on better data; oil price back below $50

27th Oct 16, 8:13am

by Jason Wong

Australian dollar gains after better CPI not sustained; USD ticks higher on better data; oil price back below $50

Bond yields rise

Equity markets react to rising yields by trimming prices. Higher inflation and a Fed hike drive a changed sentiment. Asset prices to adjust lower

27th Oct 16, 7:44am

by Jason Wong

Equity markets react to rising yields by trimming prices. Higher inflation and a Fed hike drive a changed sentiment. Asset prices to adjust lower

NZD rides on AUD coat-tails

Australian and Kiwi dollars benefit from commodity lift; weaker Australian CPI will raise expectations of RBA cut

26th Oct 16, 8:33am

by Jason Wong

Australian and Kiwi dollars benefit from commodity lift; weaker Australian CPI will raise expectations of RBA cut

Volatility unusually low

Little change in yields as markets settle in, unprepared for the unexpected. Better German and worse US indicators ignored. Eyes now on AU CPI release

26th Oct 16, 7:50am

by Jason Wong

Little change in yields as markets settle in, unprepared for the unexpected. Better German and worse US indicators ignored. Eyes now on AU CPI release

Weaker Chinese economy

China's trade balance falls short of expectations; jobless claims in US lowest since 1948; USD rally finally meets resistance; domestic factors NZD positive

14th Oct 16, 8:20am

by Jason Wong

China's trade balance falls short of expectations; jobless claims in US lowest since 1948; USD rally finally meets resistance; domestic factors NZD positive

Local rates drop, mimicking global trends

European bond yields fall, pressing US rates, and in turn New Zealand rates. Strong NZ Govt. fiscal position suggests lower supply of NZGBs available in future

14th Oct 16, 7:57am

by Jason Wong

European bond yields fall, pressing US rates, and in turn New Zealand rates. Strong NZ Govt. fiscal position suggests lower supply of NZGBs available in future