Foreign trade data from the euro area is the top economic news due on Friday, headlining a light day for the European economic news.

At 2.00 am ET, Statistics Norway releases external trade data for August.

At 2.45 am ET, final consumer price inflation figures are due from France. The initial estimate showed that consumer price inflation rose to 4.8 percent in August from 4.3 percent in July and harmonized inflation climbed to 5.7 percent from 5.1 percent.

At 4.00 am ET, Italy's statistical office ISTAT is scheduled to issue final consumer and harmonized prices for August. The statistical office is set to confirm consumer price inflation at 5.5 percent, down from 5.9 percent in July.

At 5.00 am ET, Eurostat publishes euro area foreign trade data for July and labor cost for the second quarter. The trade surplus had totaled EUR 23 billion in June.

At 6.30 am ET, Russia's central bank announces its monetary policy decision. The bank is expected to raise the benchmark rate by 100 basis points to 13.00 percent.

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