European stocks are expected to open relatively flat on Friday, but look set to end the week in positive territory as global markets digest a hawkish pivot from the U.S. Federal Reserve.

Britain's FTSE 100 is seen around 6 points lower at 7,147, Germany's DAX is expected to shed around 7 points to 15,716 and France's CAC 40 is set to drop a single point to 6,665, according to IG data.

Shares in Asia-Pacific were mixed on Friday as investors watched for market moves in the commodities sector after a recent tumble in prices triggered by a strengthening of the U.S. dollar.

International benchmark Brent crude futures slipped 0.53% to $72.69 per barrel, adding to Thursday's losses. U.S. crude futures declined 0.44% to $70.73 per barrel.

Stateside, U.S. stock futures inched fractionally higher in early premarket trade Friday, but the Dow is still on course for a losing week in which sentiment was dominated by the Fed raising inflation expectations and moving forward its rate hike schedule. The move sent the dollar soaring.

On the data front, May's U.K. retail sales fell 1.4% month on month, official statistics revealed Friday, falling short of the 1.6% expansion expected by economists in a Reuters poll. The Office for National Statistics said food stores contributed most prominently to the surprise decline.

Meanwhile, the German Producer Price Index (PPI) rose 1.5% month on month in May, vastly outstripping the 0.7% consensus forecast. On an annual basis, the PPI was 7.2% against a projection of 6.4%.

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