China CNY

China Duanwu Festival

Impact:
Low

Next Release:

Date:
Period:
What Does It Measure?
The Duanwu Festival in China measures cultural observances and consumer behavior associated with this traditional holiday, which emphasizes the significance of dragon boat racing and the consumption of zongzi (sticky rice dumplings). Its primary focus includes aspects of domestic tourism, retail sales, and seasonal economic activities.
Frequency
The Duanwu Festival occurs annually, usually on the 5th day of the 5th month of the lunar calendar, and its economic impact assessments are compiled in reports released shortly after the festival, reflecting both preliminary insights and final analyses.
Why Do Traders Care?
Traders are keenly interested in the Duanwu Festival as it provides insight into consumer spending patterns and domestic demand in China, which can influence the Chinese yuan and broader market sentiment. Increased retail sales and tourism during this period can lead to bullish conditions in the local market, impacting stocks related to consumer goods and services.
What Is It Derived From?
The economic observations surrounding the Duanwu Festival are derived from various sources including surveys of retail vendors, tourism agencies, and economic reports focusing on consumer behavior during the holiday. These assessments may utilize data from previous years, current market analysis, and estimations of foot traffic in commercial areas.
Description
Preliminary reports on the festival's economic impact provide early estimates of spending and tourism, while final reports offer a comprehensive analysis based on complete data collection. Analysts often assess YoY changes to highlight trends and seasonal variations in consumer behavior, illustrating the festival's impact on the overall economy.
Additional Notes
The Duanwu Festival is often compared with other holidays such as the Chinese New Year, as both serve as significant indicators of consumer sentiment and economic activity in China. This event is considered a coincident economic measure, reflecting real-time market conditions and cultural engagement.

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