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

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:

AUDUSD 10 mins

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.

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