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Canada CAD

Canada Thanksgiving Day

Impact:
Low

Latest Release:

Date:
Actual:
 
Forecast:
Previous/Revision:  
Period:

Next Release:

Date:
Period:
What Does It Measure?
Canada’s Thanksgiving Day does not directly measure an economic indicator; rather, it marks a significant cultural holiday that can influence consumer behavior and economic activity, particularly in retail and hospitality sectors. As part of the national calendar, it assesses areas such as consumer spending patterns, food production, and travel, which can provide indicative insights into broader economic conditions.
Frequency
Thanksgiving in Canada is observed annually on the second Monday in October, with celebrations and related economic activities varying by year but consistently occurring in this timeframe.
Why Do Traders Care?
Traders pay attention to Canadian Thanksgiving as it can lead to spikes in consumer spending, especially in retail and food sectors, which may impact overall economic forecasts. Increased consumer activity during holidays can affect stock prices of related businesses and influence currency strength due to changes in economic outlook.
What Is It Derived From?
The economic effects of Thanksgiving in Canada are derived from trends in consumer spending data, surveys from retailers, and historical performance metrics around the holiday. Analysis often includes data on preparation expenditures, travel patterns, and restaurant sales, although it is not derived from a formal index or survey.
Description
Thanksgiving serves primarily as a cultural marker, yet it impacts economic activity, particularly with increased spending on food, travel, and holiday-related purchases. Preliminary data on retail sales is typically released in the weeks following the holiday, while final reports give a more comprehensive view of consumer behavior in comparison to past years.
Additional Notes
Thanksgiving expenditures can be a coincident indicator reflecting immediate consumer confidence and economic health, making it comparable to other seasonal spending trends, such as Christmas or summer vacations. Furthermore, it provides insights into regional spending variations and consumer sentiment, which may relate to broader economic trends nationally.
Bullish or Bearish for Currency and Stocks
The anticipation of increased spending during Thanksgiving could be seen as bullish for the Canadian dollar, particularly if forecasts align with positive consumer sentiment. However, since there are no specific numerical forecasts for this cultural event, the potential economic activity is considered qualitatively and does not directly impact stock valuations or currency in such a quantifiable manner.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the 'Actual' value differs enough from the forecast or if the 'Previous' value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the 'Actual' deviates from the forecast or there's a notable revision to the 'Previous' value.

Low Potential Impact
This event is unlikely to affect market pricing unless there's an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
Actual deviated from Forecast on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
Actual deviated from Forcast on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency

Green Number Better than forecast for the currency (or previous revise better)
Red Number Worse than forecast for the currency (or previous revise better)
Hawkish Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish Favors lower rates to boost growth, weakening the currency but lifting stocks.
Date Time Actual Forecast Previous Surprise
Oct 14, 2024
 
  
Oct 09, 2023
 
  
Oct 10, 2022
 
  
Oct 11, 2021
 
  
Oct 12, 2020
 
  
Oct 14, 2019
 
  
Oct 08, 2018
 
  
Oct 09, 2017
 
  
Oct 10, 2016
 
  
Oct 12, 2015