The income and spending data in the PCE report:

  • Prior personal spending was -0.2% (unrevised)
  • Personal income +0.4% vs +0.3% expected
  • Prior personal income was +0.3% (revised to +0.4%)
  • Savings rate rises to highest since Dec 2012

The US dollar is a bit higher after this report with USD/JPY touching above 120.00 but I don't believe the data was a factor. Spending was a major driver in Q4 but it's slugging to start the year.