China Dragon Boat Festival

Info

History

Chart

Impact:

Low

Next Release:

Date:

Period:

What Does It Measure?

The Dragon Boat Festival measures cultural observances and their impact on the Chinese economy, particularly evaluating consumption patterns and tourism related to this public holiday. It focuses on spending in sectors like food, travel, and entertainment, with key indicators including retail sales growth, tourism revenue, and hospitality occupancy rates, making it a national indicator.

Frequency

The event occurs annually, celebrated on the fifth day of the fifth month of the lunar calendar, and the associated economic data is typically released shortly after the festival.

Why Do Traders Care?

Traders pay attention to the Dragon Boat Festival's economic implications because heightened consumer spending during the holiday can indicate stronger economic growth, which may influence investor sentiment in Chinese stocks and the yuan. Positive data correlating with the festival can lead to bullish performance in sectors like retail and tourism, while weaker-than-expected figures may cause caution among investors.

What Is It Derived From?

Data related to the Dragon Boat Festival is derived from various sources, including government statistical offices that compile surveys on consumer spending, travel patterns, and hospitality metrics. These surveys typically involve a broad participant base, including retail businesses, hotels, and travel agencies, to ensure comprehensive coverage of the economic impact during the holiday.

Description

The Dragon Boat Festival serves as a significant indicator of consumer behavior in China, as it highlights seasonal spending patterns. Preliminary reports may capture early insights into sales and travel, while later releases provide refined data that takes into account various adjustments, allowing traders to gauge economic health more accurately in relation to the vibrant festivities.

Additional Notes

The Dragon Boat Festival is often considered a coincident economic measure, reflecting recent consumer activity that can also serve as a gauge for seasonal spending trends. Its relevance extends beyond China, as similar festivals in other regions may provide comparative insights into global consumer sentiments.

Bullish or Bearish for Currency and Stocks

Higher than expected: Bullish for CNY, Bullish for Stocks. Lower than expected: Bearish for CNY, Bearish for Stocks.

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