Fed's Barkin: Hopeful that Initial Jobless Claims will moderate even further

Commenting on the US Department of Labor's (DOL) weekly data, Richmond Fed President Thomas Barkin said he is hopeful that  Initial Jobless Claims will moderate even further. 

Earlier in the day, the DOL reported that the weekly Initial Jobless Claims decreased by 249,000 to 1,186,000 in the week ending August 31st.

Barkin further noted that he thinks financial markets are working fine right now.

Market reaction

The US Dollar Index extended its daily recovery in the last hour and was last seen gaining 0.3% on a daily basis at 93.09.