PCE data due at the bottom of the hour
Friday's GDP report didn't do anything to clear up confusion about the state of the US economy. One particularly odd part of the report was the extreme softness in inflation. We will find out more with the March PCE report at the bottom of the hour. The deflator is expected at +1.6% y/y with core at 1.7% y/y.
On the consumption side, personal income is forecast to rise 0.4% with spending expected up 0.7%.
The US dollar is back in the drivers' seat today but this is the only top-tier data on the agenda and the market will take notice.
For more, see the economic calendar.
