Yes, you can do that. For each event you create, there’s an option in event creation whether the event will be displayed when it coincides with a holiday; you need to make sure that option is *not* checked on an event that happens the same day as a holiday.
If you always want events to coincide with holidays, you can set that option as a default in Settings – but that doesn’t affect events that have already been created, just how the option is toggled for new events.