Destatis released its factory orders data for Germany on Tuesday. German seasonal adjusted factory orders declined 1.2% in February, missing expectations for a 0.2% increase, after a 0.5% rise in January. January's figure was revised up from a 0.1% drop.

The drop was driven by a decrease in foreign orders. Foreign orders decreased by 2.7% in February, while domestic orders rose by 0.9%.

New orders from the Eurozone slid 3.7% in February, while orders from other countries declined 2.1%.

Orders of the intermediate goods climbed by 1.7% in February, capital goods orders were down 2.1%, while consumer goods orders plunged 7.3%.