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In Calvin's sermon on Christmas Day (I believe it fell on a Friday) in 1551, he says the following:
In truth, as you have often been admonished, it is good to set aside one day out of the year in which we are reminded of all the good that has occurred because of Christβs birth in the world, and in which we hear the story of his birth retold, which will be done Sunday.
Once we have understood that, we will no longer find it strange that Noel is not being observed today, but that on Sunday we will celebrate the Lordβs Supper and recite the story of the nativity of our Lord Jesus Christ.
It appears that Calvin was opposed to celebrating the Lord's Supper and elevating the day on Christmas Day, but was not opposed to celebrating Christ's birth on a Lord's Day. Liturgically, it seems that the story of the nativity was recited specially on the Lord's Day closest to Christmas Day. His letters suggest that he was ambivalent towards having Christmas Day as a festival day.
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Seems like he did keep it. He didn't see Christmas as sanctioned in the New Testament, but thought it should be up to the people and the local church to decide on whether to celebrate it. He wrote a letter in 1551 which in part stated:
Since my recall, I have pursued the moderate course of keeping Christβs birth-day as you are wont to do
This article seems to lead credence to this viewpoint: John Calvin Observed Christmas