The United States released the income report for the month of January, where personal income increased by 1.0%, compared with the prior reading of 0.4% and also median estimates of 0.4%, while personal spending increased by 0.2%, compared with the prior revised estimate of 0.5% and median estimates of 0.4%.

The report also showed that core PCE, the Fed's favorite gauge for inflation, rose to 0.1%, compared with the prior flat estimate and in line with median estimates, while compared with a year earlier, core PCE, matched the expectations to rise by 0.8% compared with the prior revised estimate of 0.8%. The PCE deflator index rose at an annual rate of 1.2%, compared with the prior estimate of 1.2% and worse than median estimates of 1.3%.