According to the report from Ifo Institute for Economic Research, German IFO business climate index rose to 99.6 in March from 98.5 in February. Economists had expected increase to 98.7. This monthly indicator published by the IFO economic institute based in Frankfurt defines - via a survey of 7,000 entrepreneurs - the level of confidence in the German economy. This index has a great influence on the Euro currency because it highlights the German economic dynamism and investment levels for the next 6 months. A low figure could negatively impact the euro since Germany accounts for almost one third of GNP in the Eurozone.

Data also showed:

• Ifo Expectations index March: 95.6 (exp 94.4; prev 93.8)

• Ifo Current Assessment index March: 103.8 (exp 103.0; prev 103.4)