(fxcue news) - Indian shares are seen opening on a positive note Friday as investors await the release of the Economic Survey 2025 in Parliament. The upside, however, may remain capped in the wake of U.S. President Donald Trump's reaffirmation of the tariff threat and amid caution ahead of the Union Budget this weekend and next week's MPC meeting. Benchmark indexes Sensex and Nifty eked out modest gains on Thursday to end higher for a third straight session. The rupee fell by 9 paise to close at 86.64 against the U.S. dollar amid continued foreign fund outflows. According to provisional data from the National Stock Exchange, foreign portfolio investors stayed net sellers of Indian equities for the 20th straight session on Thursday and offloaded shares worth Rs 4,583 crore. Asian stocks were broadly higher this morning, with Hong Kong and Chinese markets closed for the Lunar New Year holiday. Treasuries held steady after ending Thursday's session little changed. Gold has reached a new record level at $2,800 per ounce amid Trump's tariff threats on Canada, Mexico and China. Trump also threatened 100 percent tariffs on BRICS member countries if they attempt to create a new BRICS currency or back any other currency to replace the U.S. dollar. Oil prices edged higher as investors await OPEC's response to Trump's recent call for increased production. U.S. stocks fluctuated before ending higher overnight as investors reacted to broadly positive earnings from tech companies, upbeat comments from Tesla and President Trump's renewed pledges to slap 25 percent tariffs on imports from Canada and Mexico on Feb. 1. In economic news, U.S. GDP grew by 2.3 percent in Q4 2024 after expanding by 3.1 percent in Q3, while jobless claims declined more than expected last week, separate reports showed. The Dow edged up by 0.4 percent, nearing the record closing high set in early December. The S&P 500 gained half a percent and the tech-heavy Nasdaq Composite added 0.3 percent. European stocks closed higher on Thursday as the ECB delivered a widely expected 25-basis point interest-rate cut and guided for a further reduction in March due to concerns about economic growth. The pan European STOXX 600 jumped 0.9 percent. The German DAX rose 0.4 percent, France's CAC 40 climbed 0.9 percent and the U.K.'s FTSE 100 rallied 1 percent.