Yuriy Ukazkin
Forex news, rate of Australian dollar. In the nearest future hundreds of ANZ bank (Australia and New Zealand Banking Group) officials will lose their jobs. At one of its briefing meetings ANZ has informed about a significant reduction of jobs. ANZ is the 4th largest bank in Australian and the 1st in New Zealand. Reduction is caused by smaller expenditures in Australian sector.
As stated by Leon Carter, Secretary of Finance Sector Union of Australia, the current situation, connected with financing income and expenditure, makes ANZ hold aggressive policy of reducing expenditure.
It has been for over six months that the number of bank officials is being reduced. Investment sub-divisions have faced the first wave of dismissals. In 2011 dismissals at large-scale financial organizations have amounted to over 200 thousand people. This is much more than reduction in 2010 (58 thousand people) and 2009 (174 thousand people).
The rate of Australian dollar has finished forming sub-wave А(С) or reduced С as a part of bullish wave А(С)/С, approximately of Daily3 level. As stated by the experts of Мasterforex-V Trading System, mid-term wave А/В will be formed when the minimal point 1.0231 is passed; its nearest significant support will be provided by pivot MF 1.0045 and external sloping channel MF. Sub-wave С(С) will be formed when the maximal point 1.0377 is passed; its nearest significant resistance will be provided by former maximal point 1.0385 and long-term pivot MF 1.0445. Further bullish movement will face resistance at Fibonacci points 1.0496, 1.0509, 1.0547, and 1.0586.
Yuriy Ukazkin
