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

Market confident of 'Bremain'

Equity markets rise as if UK vote already decided; NZD/USD blasts through 72c, Yen collapses

24th Jun 16, 8:29am

by Jason Wong

Equity markets rise as if UK vote already decided; NZD/USD blasts through 72c, Yen collapses

Global bond markets sell off

Yields rising around the world. Locally, curve steepened. Little upside risk to a UK Remain vote

24th Jun 16, 7:56am

by Jason Wong

Yields rising around the world. Locally, curve steepened. Little upside risk to a UK Remain vote

Banks suspend GBP transfers

USD fall a lagged reaction to Yellen's comments; IMF cuts US growth forecast; market liquidity drying up ahead of Brexit vote

23rd Jun 16, 8:26am

by Jason Wong

USD fall a lagged reaction to Yellen's comments; IMF cuts US growth forecast; market liquidity drying up ahead of Brexit vote

US rates meet some resistance

Markets await UK referendum results. US rates trade in tight range, ignoring booming US house sales. Another NZGB tender today

23rd Jun 16, 8:01am

by Jason Wong

Markets await UK referendum results. US rates trade in tight range, ignoring booming US house sales. Another NZGB tender today

Rates firm as markets in waiting mode

Bond traders take to the sidelines, but markets now not expecting a Brexit shock. Few official rate changes expected. Eyes on NZ migration data

22nd Jun 16, 8:56am

by Jason Wong

Bond traders take to the sidelines, but markets now not expecting a Brexit shock. Few official rate changes expected. Eyes on NZ migration data

NZD hits one year high

NZD/USD hits 71.7c before tracking back; Yellen's message to Senate Banking Panel was one of caution; latest Brexit poll shows result too close to call

22nd Jun 16, 8:07am

by Jason Wong

NZD/USD hits 71.7c before tracking back; Yellen's message to Senate Banking Panel was one of caution; latest Brexit poll shows result too close to call

Classic risk-on rally

Sell off in risk assets being unwound; Odds of 80% that UK stays in EU, GBP rising strongly; NZD stronger as commodity currencies climb

21st Jun 16, 9:00am

by Jason Wong

Sell off in risk assets being unwound; Odds of 80% that UK stays in EU, GBP rising strongly; NZD stronger as commodity currencies climb

Risk on

Local rates move higher following global pressures. Eyes on Yellen testimony, RBA minutes

21st Jun 16, 8:06am

by Jason Wong

Local rates move higher following global pressures. Eyes on Yellen testimony, RBA minutes

Rates take an upward bias

Bond markets push rates up in the US and Europe off of lows; Fed's Bullard mirrors market thinking. Eyes on UK Brexit poll

20th Jun 16, 8:33am

by Jason Wong

Bond markets push rates up in the US and Europe off of lows; Fed's Bullard mirrors market thinking. Eyes on UK Brexit poll

'Bremain' takes the lead

Murder of pro-EU MP Jo Cox helps firm Bremain sentiment; NZD could strengthen further if Brexit fears moderate

20th Jun 16, 8:22am

by Jason Wong

Murder of pro-EU MP Jo Cox helps firm Bremain sentiment; NZD could strengthen further if Brexit fears moderate

RBNZ rhetoric sends NZD soaring higher

Hawkish comments from RBNZ catches out offshore investors; RBNZ unperturbed by missing inflation target for six straight years; NZD/AUD breaches 96c

10th Jun 16, 8:13am

by Jason Wong

Hawkish comments from RBNZ catches out offshore investors; RBNZ unperturbed by missing inflation target for six straight years; NZD/AUD breaches 96c

Local wholesale rates rise following OCR no-change

New Zealand takes a different path to the risk-off mood in most global markets. ECB's bond buying distorting yeilds lower. Eyes on China data

10th Jun 16, 8:09am

by Jason Wong

New Zealand takes a different path to the risk-off mood in most global markets. ECB's bond buying distorting yeilds lower. Eyes on China data

USD under pressure

Long USD positions continue to be unwound; NZD expected to run higher; NZD/AUD closing in on 94c again

9th Jun 16, 8:28am

by Jason Wong

Long USD positions continue to be unwound; NZD expected to run higher; NZD/AUD closing in on 94c again

German govt. rates about to go negative

ECB begins corporate debt buying program. Average euro IG yield below 1%. Local markets see no OCR change today

9th Jun 16, 8:14am

by Jason Wong

ECB begins corporate debt buying program. Average euro IG yield below 1%. Local markets see no OCR change today

NZ rate cuts haven't lead to lower NZD

A weaker USD is supporting risk sentiment with a risk-on mood in currency, equity and commodity markets. GBP remains volatile

8th Jun 16, 8:38am

by Jason Wong

A weaker USD is supporting risk sentiment with a risk-on mood in currency, equity and commodity markets. GBP remains volatile

Anything possible from RBNZ

Markets have no idea what the RBNZ will do tomorrow. Markets discount any chance of a US Fed hike in June

8th Jun 16, 7:41am

by Jason Wong

Markets have no idea what the RBNZ will do tomorrow. Markets discount any chance of a US Fed hike in June

NZD/USD shoots up through 69c

US employment result a shocker, ruling out Fed hike in June; Yellen still believes in monetary policy tightening over time; UK Brexit polls showing more want to leave EU

7th Jun 16, 8:22am

by Jason Wong

US employment result a shocker, ruling out Fed hike in June; Yellen still believes in monetary policy tightening over time; UK Brexit polls showing more want to leave EU

Fed June rate hike is effectively off the table

Yellen emphasises US monetary policy not on a preset course. US rates fall on job data. German, British and Australian rates also fall

7th Jun 16, 7:38am

by Jason Wong

Yellen emphasises US monetary policy not on a preset course. US rates fall on job data. German, British and Australian rates also fall

Demand for US bonds

Investors finding US bonds more attractive than European or Japanese equivalents; NZ yields fall as Fonterra annnounces lower than expected milk price forecast; NZ government cuts bond issuance program

27th May 16, 8:08am

by Jason Wong

Fonterra hits bottom of forecast range

Kiwi dollar sold off as Fonterra's opening milk price estimate comes in below expectations; NZD selling ceased on back of no-frills budget from government; oil price breaks through $50/bbl barrier

27th May 16, 8:02am

by Jason Wong

Kiwi dollar sold off as Fonterra's opening milk price estimate comes in below expectations; NZD selling ceased on back of no-frills budget from government; oil price breaks through $50/bbl barrier

US Treasury market resilient

US yields hold firm; odds of Fed hike in June drifting higher; local focus turns to budget and bond issuance program

26th May 16, 7:28am

by Jason Wong

US yields hold firm; odds of Fed hike in June drifting higher; local focus turns to budget and bond issuance program

Greek debt crisis can still being kicked

IMF hands Greece another lifeline and asks EU creditors to restructure loans if needed in 2018; USD takes a breather, market no longer fears near term rate hike, NZD/USD up 0.5%

26th May 16, 7:19am

by Jason Wong

IMF hands Greece another lifeline and asks EU creditors to restructure loans if needed in 2018; USD takes a breather, market no longer fears near term rate hike, NZD/USD up 0.5%

Positive tone across markets

Markets unphased by prospects of tighter US monetary policy; GBP rises strongly on favourable Brexit polling; AUD hit by selling pressure, NZD pulled down too

25th May 16, 8:17am

by Jason Wong

Markets unphased by prospects of tighter US monetary policy; GBP rises strongly on favourable Brexit polling; AUD hit by selling pressure, NZD pulled down too

German bond yields restrain US pricing

Local rates see downward pressure as offshore investors sense the recent short end rises have been overdone. Eyes on NZ Budget

25th May 16, 7:49am

by Jason Wong

Local rates see downward pressure as offshore investors sense the recent short end rises have been overdone. Eyes on NZ Budget

Yen bounces back

Strong trade data pushes Yen higher, Japan's surplus highest in six-years; Yen remains cheapest of all the majors on a real basis; EUR falls on weaker PMI data

24th May 16, 8:11am

by Jason Wong

Strong trade data pushes Yen higher, Japan's surplus highest in six-years; Yen remains cheapest of all the majors on a real basis; EUR falls on weaker PMI data