At 12:30 GMT, the US economy released its reading for the consumer price index, which rose by 0.4% in August, better than forecasts of 0.3%, but lower than the previous reading of 0.6%. 

The core reading (excluding food and fuel prices) rose by 0.4%, higher than forecasts of 0.2%, but also lower than the previous reading of 0.6%. 

Oil prices continued to rise as the US market opened on Friday, but remain weighed down by fear over the US demand, after an unexpected build in the US crude inventories, to head for the second straight weekly loss due to renewed doubts about the global demand recovery.

US crude rose 1.5% to $37.43 a barrel, after opening at $37.00, and hit a session-low of $36.98, and Brent rose 0.6% to $40.18, after opening at $39.93, and hit a session-low of $39.70. 

The US crude lost 2% yesterday, and Brent futures fell 2.2%, following the EIA's weekly report.

The Energy Information Administration (EIA) showed yesterday that the US crude inventories rose 2 million barrels during the week ending September 4, missing forecasts of a drop by 3.1 million.

Total inventories rose to about 500 million barrels, its first weekly increase in 7 weeks, which is a negative sign of the US demand. 

US oil production rose during the past week by 300,000 barrels per day, to a total of 10 million bpd, after restoring a large portion of the Gulf of Mexico output that halted due to storms in the previous week.

Oil prices have lost 4.5% so far during this week, on the cusp of the second straight weekly loss due to renewed doubts about the global demand recovery.

The coronavirus crisis continues to deter the global market, cases spiked in India, the UK, Spain and many parts of the US, which renewed concerns about the global fuel demand.

The Eurasia Consulting Group noted that the coronavirus outbreak threatens the global economic recovery hopes, which will weigh on demand for fuel, but low prices may lift refineries' profits.

The US dollar fell on Friday, to resume its losses after taking a breather yesterday, on profit-taking and correction, in addition to slowing demand ahead of key US inflation data for August.

The dollar index fell 0.25% to 93.10 points, after opening at 93.33, and hit an intraday high of 93.35.

The index gained 0.1% yesterday, after dropping 0.3% on Wednesday on profit-taking and correction from a 4-week high of 93.66 points.

Alongside profit-taking, the US dollar fell due to slowing demand following the European Central Bank's decision to hold the interest rate and after its President Christine Lagarde said that the current stimulus measures are sufficient.

Investors are anticipating key economic data releases today on the US inflation levels during August, which provides insight on the US economic recovery path from the coronavirus pandemic.

At 12:30 GMT, the US economy will release the consumer price index reading, amid forecasts for the y/y reading to rise 1.2% in August vs. 1% in July, and the m/m reading to rise 0.3% vs. 0.6%.

European stocks fell on Friday, to head for the second straight daily loss, as the tech stocks selloff was renewed on Wall Street, in addition to risk-aversion due to rising odds for the UK to leave the EU without a deal.

The Stoxx Europe 600 index fell 0.1% as of 10:25 GMT, after it lost 0.6% yesterday, following the European Central Bank's decision to hold the interest rate and after its President Christine Lagarde said that the current stimulus measures are sufficient.

The index fell today as the week wraps up, to head for its second straight loss in 3 sessions, with most of the major European markets and sectors seeing red.

The banking sector saw the largest losses in Europe today, dropping about 1.3%, while the household products sector rose 0.7%.

The European Union on Thursday urged the British government not to renege on the Brexit deal it signed and threatened to take legal action, but UK's Prime Minister Boris Johnson appears to be pushing forward in that direction.

S&P 500 futures rose more than 0.5%, after the index closed lower by 2% yesterday at Wall Street, and posted its fourth loss in 5 sessions, due to huge selloff move in the tech sector.

Back to Europe, the Euro Stoxx 50 index fell 0.2%, France's CAC 40 fell 0.1%, and Germany's DAX fell 0.2%, while the UK's FTSE 100 rose 0.4%.