FxWirePro: EUR/CAD climbs as investors look past soft Eurozone data

• EUR/CAD climbed on Thursday as improved risk sentiment following the reopening of the U.S. government outweighed weak Eurozone industrial production data..

• U.S. President Donald Trump signed the bill to end the government's shutdown in the Oval Office on Wednesday.

• Investors now await delayed U.S. economic data, particularly labor market indicators, for clues on the Fed's policy stance.

• Delayed economic data is expected to begin rolling out next week, with October’s payroll figures likely arriving first. Attention will center on whether they confirm the recent private surveys indicating softness in the labor market.

• Euro zone industrial production rose much less than expected in September, as strong performances from major economies were offset by volatility among large foreign firms based in Ireland for tax reasons.
 
•  Immediate resistance is located at 1.6390(Higher BB), any close above will push the pair towards 1.6294 (23.6%fib).

•  Support is seen at 1.6197(50%fib) and break below could take the pair towards 1.6107(Lower BB).

Recommendation: Good to buy  around 1.6300 , with stop loss of 1.6220  and target price of 1.6360