Italy EUR

Italy Assumption of Mary

Impact:
Low

Next Release:

Date:
Period:
What Does It Measure?
The Assumption of Mary, predominantly a Catholic religious observance celebrated in Italy, does not directly measure economic indicators; however, it can influence economic activity, primarily in sectors like retail and tourism. This public holiday assesses aspects such as consumer spending and service sector performance as it typically features increased religious tourism and local festivities.
Frequency
The Assumption of Mary is observed annually on August 15th, marking a fixed date in the Italian calendar.
Why Do Traders Care?
Traders monitor the Assumption of Mary because it can impact short-term sales figures across various industries, particularly retail and hospitality, influencing broader economic conditions. Increased consumer spending during this holiday may bolster market sentiment, potentially affecting financial assets in related sectors.
What Is It Derived From?
The significance of the Assumption of Mary stems from its roots in Catholic tradition and its status as a national public holiday, which prompts data collection on consumer spending patterns. Economic analyses may utilize data from retail sales reports, tourism statistics, and attendance at local events, though the measure of impact is often indirect.
Description
The Assumption of Mary serves as a key cultural event that generates economic activity, particularly in the retail, food, and tourism sectors. Its effects on consumer behavior are often observable through increased spending and attendance at events, particularly in cities known for their religious significance, such as Rome and Assisi.
Additional Notes
This holiday can be compared to other national holidays in Italy, such as Christmas and Easter, which also signify seasonal spikes in economic activity. While it may act as a coincident indicator reflecting current economic conditions, its effects should be viewed within the broader context of Italy's annual economic cycle and social behaviors.
Bullish or Bearish for Currency and Stocks
The outcome of increased consumer spending during the Assumption of Mary could be interpreted as bullish for the Euro if significant economic benefits are realized, while stock prices in retail and tourism sectors may also rise in response. A favorable economic performance during this holiday is typically supportive of both currency valuation and stock market activity in these industries.

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