Draghi's 7-Week Test, Fed Confidence, Tokyo Inflation: Eco Day

(Bloomberg) -- Happy Friday, Europe. Here’s the latest news from Bloomberg Economics:

• Mario Draghi’s confidence in the euro-area economy is about to face a seven-week test
• At the Fed, two officials who vote on interest rates this year downplayed the effects on the economy of the rough October for U.S. stocks
• Those comments came as the U.S. merchandise-trade deficit widened to a record in September while orders for business equipment declined for a second month, hinting at softening demand
• Meantime, China is banking on its dominance of global supply chains to help it ride out the pain from Donald Trump’s trade war
• In Japan, inflation in Tokyo remained unchanged this month, providing little incentive for the central bank to adjust policy at its board meeting next week
• India’s tight money conditions and fears of a contagion following a debt crisis at a local lender dented demand and put a muzzle on animal spirits in the world’s fastest-growing major economy

To contact the reporter on this story: Enda Curran in Hong Kong at ecurran8@bloomberg.net

To contact the editors responsible for this story: Malcolm Scott at mscott23@bloomberg.net, Chris Bourke

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