ECB executive board member Panetta said the price outlook is deteriorating and expects inflation to remain above 2% for several quarters.

Germany's seasonally adjusted total unemployed in October was 3.016 mln, up from 3.012 mln previously.

Rising Middle East risk is keeping oil prices elevated and pressuring the Indian rupee. In Friday morning trade USD/INR rose to about 95.25, near Thursday’s two‑week high of 95.38. TD Securities said a flurry of reports about a possible pre-midterm deal has weighed on crude, but it expects that dynamic to persist through the US midterms and judges Iran unlikely to agree to a deal in the tense run-up to the election. The bank added fundamentals remain tight: tanker attacks and Houthi pressure have apparently reduced Middle East oil shipments, at least temporarily. TD said as long as ongoing attacks sustain a risk premium, energy prices should find firm support at current elevated levels.