Canada CAD

Canada Canada Day

Impact:
Low

Next Release:

Date:
Period:
What Does It Measure?
Canada Day, celebrated on July 1st, measures the national identity and pride of Canadians, commemorating the confederation of Canada in 1867. While it does not serve as a traditional economic indicator, its celebration reflects key aspects of economic activity, including consumer spending, hospitality industry performance, and national morale, which can indirectly influence broader economic trends.
Frequency
Canada Day is an annual event, occurring every July 1st, and is recognized nationwide, resulting in various celebrations and activities that contribute to economic engagement and local commerce.
Why Do Traders Care?
Traders may find Canada Day of interest as it can serve as a barometer for consumer spending trends during national holidays, impacting sectors like retail and hospitality. Increased economic activity during this period can signal consumer confidence, which may influence broader market sentiment and expectations for the Canadian economy.
What Is It Derived From?
As a national holiday, Canada Day is not derived from specific economic data or surveys; rather, it is observed as a cultural and historical marker. Its economic implications stem from anecdotal evidence of increased spending and activity in various sectors, particularly tourism and entertainment.
Description
The economic impacts of Canada Day can be indirectly assessed through trends in retail sales, restaurant revenues, and tourism statistics in the weeks surrounding the holiday. Events such as fireworks displays, public gatherings, and parades typically draw large crowds, indicating potential spikes in local economic activity.
Additional Notes
Canada Day may be considered a coincident indicator, reflecting real-time consumer behaviors and spending patterns. It can also provide insights into broader economic conditions, as successful holidays may correlate with a robust economy, while lackluster celebrations may suggest economic challenges.
Bullish or Bearish for Currency and Stocks
This section is not applicable as Canada Day does not produce specific numerical values or forecasts that influence market conditions.

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