According to the Ifo Institute for Economic Research, the German Ifo Business Climate missed the forecast. Worries in the German business world continue to grow as the Ifo Business Climate Index fell from 99.3 points (seasonally adjusted) in January to 98.5 points in February. This is the lowest level since December 2014.

On the technical front, the EUR/USD drops below $1.3447 trading level with immediate support falling at $1.1326.