Final inflation data from the euro area is the top economic news due on Friday, headlining a light day for the European economic news. At 2.30 am ET, Switzerland's Federal Statistical Office publishes quarterly industrial production data for the first quarter.

European shares are seen opening on a sluggish note Friday after comments from three Federal Reserve officials suggested that U.S. interest rates are likely to stay higher for longer.

The Japanese yen weakened against other major currencies in the Asian session on Friday.

Indian shares opened a tad lower on Friday after three Federal Reserve officials argued in favor of keeping borrowing costs high until there's more evidence of easing inflation.

Asian stock markets are trading mostly lower on Friday, following the broadly negative cues from global markets overnight, as traders seemingly pausing to assess the near-term outlook for the markets and indulged in taking out some profit from the market following recent gains after the recent rally. Asian markets ended mostly higher on Thursday.

euro traders are keenly awaiting today's CPI reading to gauge the euro's price movement amid softening U.S. dollar.

GBP/USD dipped 0.1%, Bitcoin dropped 1.2%, oil gained 0.4%, and AUD/USD fell 0.3%. Venture capital funding is rising, Aquarius launched a $600M liquidity fund, and crude prices rose. Key economic releases include US Oil Rig Count and various HICP and CFTC data.

On Thursday, the yen strengthened against the US dollar in response to improving Federal Reserve interest rate prospects. The USDJPY pair has declined to 153.88.

US inflation resumes downtrend, retail sales stagnate - Dollar falls as investors add to Fed rate cut bets - Yen gains even as Japanese economy contracts - Wall Street at fresh records, gold rallies on US data

US inflation resumes downtrend, retail sales stagnate - Dollar falls as investors add to Fed rate cut bets - Yen gains even as Japanese economy contracts - Wall Street at fresh records, gold rallies on US data