German IFO Business Climate arrives lower at 84.4 in April vs. 85.5 estimates

German IFO Institute's Business Climate Index deteriorates at a faster-than-expected pace to 84.4 in April. The sentiment data was expected to arrive at 85.5, down from 86.3 in March revised lower from 86.4.

Market reaction

A slight selling pressure is seen in the Euro (EUR) after the sentiment data release.