TOKYO, April 27- Canon Inc on Monday said net profit fell 28.7 percent in its first quarter, falling short of analyst estimates, as the Japanese company faced slumping sales of digital compact cameras. Profit was 33.93 billion yen in January-March, compared with the 53.64 billion yen average estimate of 5 analysts according to Thomson Reuters data.» Read More
Bank of Japan Governor Masaaki Shirakawa said on Friday that the economy was slowing due to rising energy and raw materials costs, but he maintained that it would likely pick up gradually.
The euro retreated from a record high against the dollar in choppy trade Thursday after a top euro zone official called recent euro appreciation "undesirable."
The euro pushed to a new record high Wednesday after a lower-than-expected gain in U.S. inflation last month and a sharp fall in housing starts boosted the case for more Federal Reserve interest rate cuts.
The dollar extended gains on Tuesday after U.S. Treasury data showed foreigners increased purchases of U.S. assets in February, easing some concern that the credit crisis would dry up U.S. capital inflows.
The dollar was mixed against European and Asian currencies Monday after the Commerce Department reported that retail sales edged up in March.
For the week ending Friday, April 11, 2008 the US Markets ended the week in negative territory. There was not a lot of movement in the markets for most of the week, as the major indices traded on a mix of news including same store sales, record highs in oil, flight cancellations from major airlines, and disappointing first quarter results from Alcoa (AA). The markets tumbled on Friday on General Electric's (GE) disappointing earnings.
The yen rose broadly after a fall in industrial conglomerate General Electric's quarterly earnings stoked fears about the health of the US economy, causing investors to dump riskier trades.
The dollar fell to a record low against the euro Thursday, but pared losses as European Central Bank President Jean-Claude Trichet did not drastically change his growth and inflation views for the euro zone.
The dollar extended its fall against the yen Wednesday, dropping to session lows as U.S. stocks deepened losses after a surge in oil prices.
The Bank of Japan left its interest rate target unchanged at 0.5 percent on Wednesday, as expected, in a unanimous vote.
The U.S. dollar edged lower versus the euro on Tuesday as minutes of the last Federal Reserve meeting showed policy makers felt that a prolonged and severe economic downturn can't be ruled out.
The U.S. dollar held steady against the euro Monday in European trading at the start of a week that will see the latest interest rate decision from the European Central Bank.
Japan's government put forward acting central bank governor Masaaki Shirakawa on Monday to head the Bank of Japan permanently, finally finding a candidate the veto-wielding opposition is likely to back after weeks of deadlock.
For the week ending Friday, April 4, 2008 the US Markets all ended the week up over 3% or more holding on to the gains from Tueday's big rally. This is the third consecutive week of gains for the NASDAQ, something it has not had since October of last year.
The dollar fell against the euro and yen Friday in volatile trading as investors digested the U.S. March jobs report and focused on the rise in the unemployment rate.
Japan's government may nominate acting central bank governor Masaaki Shirakawa as permanent head of the bank, hoping that a candidate already approved by parliament will not be vetoed by opposition lawmakers, the Nikkei newspaper said on Friday.
The dollar gained against the euro Thursday after news the U.S. service sector shrank less than expected in March.
Japanese electronics maker Sony will cut costs and attract more orders to offset the negative impact of the yen's strength on its profit, the company's president said on Thursday.
The dollar rose against the yen Wednesday, following U.S. stocks higher, as investors bet that the worst of the credit crisis may be over and grew more tolerant of risk.
The dollar vaulted higher Tuesday after major banks UBS and Lehman Brothers raised a combined $19 billion to shore up their balance sheets, boosting hopes that the worst of Wall Street's problems may be over.