The long weekend might be only hours away, but the market activity isn’t slowing down this Friday. U.S. durable goods orders are moving the currency pairs this morning as the dollar advances despite falling U.S. Treasury yields. The initial shock of President Trump’s cancelation of the North Korea summit has waned. A series of central bank speeches are scheduled throughout the day.

Trump cancels Kim meeting

President Trump abruptly canceled his June 12 summit with North Korea’s Kim Jong Un on Thursday. In a letter to Kim, Trump said the recent “tremendous anger and open hostility” from North Korean statements caused him to make the decision.

North Korea had previously said it would not be bullied into quickly abandoning its nuclear weapons program, making the summit’s future uncertain.

Trump said it would be “inappropriate” to meet at this time, but left the door open for future meeting. In a response, North Korea said it was surprised by the decision and said it is still willing to meet.

The safe-haven Japanese yen gained the most from the news initially, with USD/JPY falling from 109.6 to 109.0 right away. The pair since recovered and trades around 109.4 Friday morning. Most of the market selloff from the cancelation has dissipated.

EUR/USD hitting new 2018 lows

The euro is reaching new lows for the year, dipping below 1.167 Friday morning.

The euro’s plunge is mainly due to USD strength and political woes in the Eurozone. The new Italian coalition government has weighed on the euro this week and now Spain’s government is hurting the common currency. The Spanish ruling party took a hit when a former treasurer was found guilty for fraud and money laundering.

The upbeat U.S. durable goods orders for April are helping the dollar gain on the euro. Orders excluding transportation came out at an increase of 0.9% compared to 0.5% expected.

Sterling slides on GDP

The pound fell earlier as GDP growth for the U.K. hit a five-year low.

The second Q1 GDP reading came out at 0.1% quarter over quarter, in line with expectations, but confirming weak growth for the country.

GBP/USD has declined since the release, trading around 1.334 after falling below 1.330.

Chatty central bankers

Members of the world’s central banks are kicking off the weekend with a series of speeches throughout the day.

European Central Bank board member Benoit Coeur  is speaking on a panel this morning during the 350th anniversary celebration of Sweden’s bank, Sveriges Riksbank, in Stockholm. He’ll be followed by Bank of England’s Mark Carney and U.S. Federal Reserve Chairman Jerome Powell, who are also speaking at the event.

In Dallas, three Fed presidents are speaking at a conference about “technology-enabled disruption.” Chicago Fed President Charles Evans, Dallas Fed President Robert Kaplan and Atlanta Fed President Raphael Bostic are all participating in a panel discussion.

Jens Weidmann, president of Germany’s Bundesbank, will finish off the day with a speech back at the event in Stockholm.