The U.S. released the income report for the month of March, where the report showed that personal income increased by 0.3% inline with expectations and following the prior revised rise of 0.1%, while personal spending increased by 0.6% also inline with expectations and up from the prior revised rise of 0.5%.

The income report also showed that the PCE deflator increased by an annualized 2.0% inline with median estimates and following the prior reported rise of 1.8%. Moreover, the Fed's favorite indicator for inflation, core PCE, increased in March by 0.1% inline with expectations and following the prior reported flat estimate, while compared with a year earlier, core PCE increased by 1.3% unchanged from the prior estimate and inline with expectations.