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China CNY

China Qingming Festival

Impact:
Low

Latest Release:

Date:
Actual:
 
Forecast:
Previous/Revision:  
Period:
What Does It Measure?
The Qingming Festival, also known as Tomb Sweeping Day, primarily measures cultural practices and regional economic activity related to the commemoration of ancestors in China. It reflects the public's engagement in spending on travel, food, and related services during this traditional holiday, providing insights into consumer sentiment and seasonal economic fluctuations.
Frequency
The Qingming Festival occurs annually, celebrated on April 4th or 5th, depending on the lunar calendar, and it does not have preliminary or final estimates, as it is a cultural event rather than a statistical report.
Why Do Traders Care?
Traders pay attention to the Qingming Festival because it influences short-term consumer spending patterns, particularly in tourism and retail sectors, which can impact economic forecasts and GDP estimates. A robust participation in the festival can project positive consumer sentiments and economic health, affecting markets like Chinese equities and the yuan.
What Is It Derived From?
The significance of the Qingming Festival is rooted in traditional customs rather than quantitative metrics, thus it is not derived from statistical data but reflects social behaviors, such as the act of cleaning graves and making sacrificial offerings that are driven by cultural significance. Observations of travel patterns and spending habits around this time indirectly inform its economic implications.
Description
The Qingming Festival serves as a cultural marker that influences various economic activities in China. It typically fosters increased travel as families visit ancestral graves, thus leading to heightened sales in tourism-related sectors, hospitality, and retail, resulting in pronounced seasonal effects on local economies.
Additional Notes
The Qingming Festival is considered a coincident economic indicator because its timing aligns with peak consumer expenditure during the spring season, offering insights into consumer confidence. While primarily affecting local economies, similar festivals are observed globally, although their economic impacts may vary widely across cultures and regions.
Bullish or Bearish for Currency and Stocks
The economic activity surrounding the Qingming Festival typically results in increased consumer spending, which can be bullish for the Chinese yuan and Chinese retail stocks. However, as it does not involve direct numerical reports or forecasts, a classification of impact relative to expectations is not applicable.

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
Apr 04, 2025
 
  
Apr 07, 2024
 
  
Apr 06, 2024
 
  
Apr 05, 2024
 
  
Apr 04, 2024
 
  
Apr 05, 2023
 
  
Apr 05, 2022
 
  
Apr 04, 2022
 
  
Apr 03, 2022
 
  
Apr 05, 2021
 
  
Apr 06, 2020
 
  
Apr 05, 2020
 
  
Apr 04, 2020