Oil prices eased in early trading on Friday, but were set to close higher for the week on positive economic data from the United States and China and a draw in U.S. crude stocks.

The U.S. dollar held firm on Friday after rising overnight, as traders weighed how domestic GDP data that surprised to the upside would impact the Federal Reserve's rate path and awaited key inflation data later in the day.

Thailand's economy is expected to grow 2.8% this year, a sharp downgrade from an earlier forecast of 3.2%, the finance ministry said on Tuesday, bolstering the government's push for stimulus to revive an economy it says is in "crisis".

Singapore's key consumer price gauge rose 3.3% in December on a yearly basis, official data showed on Tuesday.

Japan's exports surged to record highs in December, with shipments to the U.S. soaring to their strongest-ever level while those to China were also robust, logging their first rise in more than a year.

Japan's factory activity shrank for the eight consecutive month in January amid weak demand, but the service sector saw strong gains as new business picked up, a private business survey showed on Wednesday.