Oil prices steadied in Asian trade on Friday, taking some support from positive U.S. gross domestic product data, but concerns over sluggish demand conditions in Asia put crude on course for a third week of losses.

The yen was poised for its strongest week in nearly three months on Friday as traders unwound their long-held bets against the frail currency ahead of crucial U.S. inflation data that could cement rate cut expectations.

Car production in Thailand fell 20.11% in June from a year earlier due to tighter financing rules and high consumer debt, and full-year production is now expected to be lower than in 2023, the Federation of Thai Industries (FTI) said on Thursday.

Growth in euro zone business activity stalled this month as a tepid expansion in the bloc's dominant services industry failed to offset a deeper downturn among manufacturers, a survey showed on Wednesday.

A panel at the Japanese labour ministry has decided to raise the national average minimum wage by about 5% to 1,054 yen ($6.85) per hour this fiscal year, the biggest ever jump, public broadcaster NHK reported on Wednesday.

U.S. business activity climbed to a 27-month high in July, but firms appeared to have some difficulty sustaining higher prices for their goods and services amid resistance from consumers, offering a further boost to the inflation outlook.