Empire Manufacturing Index falls in November to 6.3 against expectations of a rise to 13.5

The Empire manufacturing sector index showed an unexpected drop in November since 10.5 to 6.3, being that the market consensus was for a reading of 13.5. The order index fell from 12.3 to 3.7, the shipping index from 17.8 to 6.3 and the number of employees went from 7.2 to 9.4.

The data was below expectations but had no impact on the market. Stocks are consolidating major gains and USD / JPY remains near 105.00. The market is still affected by Moderna’s announcement that its vaccine is 94.5% effective.

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