Destatis released its factory orders data for Germany on Friday. German seasonal adjusted factory orders dropped 1.4% in July, missing expectations for a 0.6% decline, after a 1.8% rise in June. June's figure was revised down from a 2.0% increase.

The decline was driven by a drop in foreign orders. Foreign orders plunged by 5.2% in July, while domestic orders increased by 4.1%.

New orders from the Eurozone rose 2.2% in July, while orders from other countries slid 9.5%.

Orders of the intermediate goods fell by 0.2% in July, capital goods orders were down 1.6%, while consumer goods orders decreased 6.3%.

On a yearly basis, factory orders fell by 0.6% in July, after 7% gain in June.