The US is closed for holiday but the forex market is in a good mood

The mood in the market is positive and improving to start the week.

US stock markets surged on Friday and the mood remains positive, despite a US long weekend. The Australian and Canadian dollars are at the highs of the day, which the pound is making headway against the dollar. Oil and gold are also strengthening.

AUD/USD is threatening Thursday’s high:

The rule of thumb is not to over-analyze a holiday trade, so keep that in mind. Month-end considerations are also going to be a driver this week.

All that said, it’s better to be up than down and the market continues to believe in the soft landing scenario.

This article was written by Adam Button at www.forexlive.com.