New Zealand NZD

New Zealand Christmas Eve (substitute day)

Impact:
Low

Next Release:

Date:
Period:
What Does It Measure?
The New Zealand Christmas Eve (substitute day) does not measure traditional economic indicators but reflects an adjustment in the holiday calendar, particularly relating to the timing of public holidays, which can influence economic activity. It assesses the impact of holiday scheduling on production, employment, and consumption patterns, signaling the potential for increased retail activity and public sector operations.
Frequency
This event is observed annually, occurring on December 24 when Christmas Day falls on a weekend, and is recognized as a public holiday, typically acknowledged in the first week of December for economic planning purposes.
Why Do Traders Care?
Traders monitor the substitute day as it can significantly impact consumer spending patterns and overall economic activity, especially in retail sectors, influencing forecasts for GDP growth. Shifts in holiday schedules may also affect market sentiment as they can lead to short-term fluctuations in asset prices, including currencies and equities.
What Is It Derived From?
The designation of a substitute day for Christmas Eve is derived from legislative decisions made by the New Zealand government, which considers public sentiment and economic implications. The methodology includes evaluating the impacts on businesses and consumers, notably focusing on sectors that experience heightened activity during the festive season.
Description
The substitute day for Christmas Eve represents an economic strategy to ensure that the public has an extended holiday period, fostering increased retail sales and consumer engagement. This period generally sees an uptick in spending as businesses prepare for the holiday season, affecting employment rates and overall economic conditions positively.
Additional Notes
This substitute holiday is often viewed as a coincident indicator of economic vitality during the festive season, reflecting broader trends in consumer confidence and spending habits. It aligns with other holiday-related indicators such as retail sales figures and production outputs, offering a glimpse into the annual economic cycles specific to New Zealand.
Bullish or Bearish for Currency and Stocks
There is no specific numerical forecast related to this event to evaluate its direct impact on currency or stocks; however, the implications of increased consumer spending can be seen as bullish for New Zealand's economy overall, suggesting positive sentiment towards the New Zealand Dollar (NZD) alongside retail stock performance.

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