Spain Epiphany

Info

History

Chart

Impact:

Low

Next Release:

Date:

Period:

What Does It Measure?

Spain's Epiphany is a cultural holiday that measures the celebration of the visit of the Magi to the baby Jesus, marking the end of the Christmas season. While not a conventional economic indicator, it highlights consumer behavior and spending patterns related to holiday festivities, particularly in the retail sector.

Frequency

The event occurs annually on January 6th, and its associated economic metrics typically reflect final consumer spending figures related to this holiday, often published shortly after the celebration.

Why Do Traders Care?

Traders pay attention to consumer behavior during Epiphany as it can significantly impact retail sales and subsequent economic forecasts, particularly in Spain. Increased consumer spending during this time can be bullish for related stocks and sectors, illustrating consumer confidence levels and influencing economic sentiment.

What Is It Derived From?

Data on consumer spending during Epiphany is derived from various sources, including retail sales reports, consumer surveys, and economic analyses conducted by financial institutions. These assessments often focus on trends in spending patterns and the types of goods purchased, reflecting seasonal impacts.

Description

The Epiphany holiday contributes to various facets of economic data, such as retail sales figures measured through Year-over-Year (YoY) comparisons to capture long-term trends without seasonal distortions. This measure is often used rather than Month-over-Month (MoM) or Quarter-over-Quarter (QoQ) due to its alignment with annual holiday patterns and consumer psychology.

Additional Notes

Epiphany spending provides insight into consumer sentiment and seasonal economic activity, serving as a coincident indicator of economic health in Spain. Comparing Epiphany to other holiday shopping events, such as Christmas, can yield valuable insights into broader retail trends and economic conditions.

Bullish or Bearish for Currency and Stocks

Higher than expected: Bullish for EUR, Bullish for Retail Stocks. Lower than expected: Bearish for EUR, Bearish for Retail Stocks. There is no hawkish or dovish tone applicable since the event does not directly influence monetary policy.

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