{
  "signal": "certvas-macro-momentum-v1",
  "name": "Certvas Macro-Momentum Signal",
  "version": "v1",
  "sku": "AF-MACRO",
  "label": "Published for research and informational use. Not administered as, and not for use as, a regulated benchmark.",
  "grain": "series_frequency",
  "point_in_time": "latest vs prior observation per frequency; as_of = latest observed_at (no look-ahead)",
  "snapshot_hash": "221427167066a872",
  "caveats": [
    "Momentum is the % change of the latest observation vs the prior one: for FX (LCU/USD) that is the currency move; for a CPI index it is the period inflation \u2014 interpret per series type.",
    "One row per (series, frequency): the same id (e.g. FX.ZAR.USD) can carry BOTH a monthly row (GEM period-average) and a daily row (ECB reference rate). They are computed separately so daily and monthly observations are never mixed. Compare like-for-like frequency.",
    "Point-in-time: values are the latest known vintage per date (no look-ahead); as_of is the latest observed_at. A (series, frequency) ships only when it has >= 2 observations.",
    "GEM FX/CPI are as-published monthly levels; ECB FX is an indicative daily snapshot \u2014 not executable fixings. Momentum on a near-zero base is unstable."
  ],
  "observations": [
    {
      "series": "CPI.EGY.HEADLINE",
      "frequency": "monthly",
      "country_iso3": "EGY",
      "latest_date": "2026-01-01",
      "latest_value": 837.041719,
      "prior_value": 780.235988,
      "momentum_pct": 7.281,
      "momentum_3p_pct": 7.81,
      "n_obs": 216,
      "as_of": "2026-09-09"
    },
    {
      "series": "CPI.GHA.HEADLINE",
      "frequency": "monthly",
      "country_iso3": "GHA",
      "latest_date": "2026-01-01",
      "latest_value": 890.029019,
      "prior_value": 871.528472,
      "momentum_pct": 2.123,
      "momentum_3p_pct": 4.01,
      "n_obs": 216,
      "as_of": "2026-09-09"
    },
    {
      "series": "CPI.KEN.HEADLINE",
      "frequency": "monthly",
      "country_iso3": "KEN",
      "latest_date": "2026-01-01",
      "latest_value": 282.473078,
      "prior_value": 274.823617,
      "momentum_pct": 2.783,
      "momentum_3p_pct": 3.609,
      "n_obs": 216,
      "as_of": "2026-09-09"
    },
    {
      "series": "CPI.NGA.HEADLINE",
      "frequency": "monthly",
      "country_iso3": "NGA",
      "latest_date": "2026-01-01",
      "latest_value": 1012.829711,
      "prior_value": 945.028818,
      "momentum_pct": 7.174,
      "momentum_3p_pct": 9.07,
      "n_obs": 216,
      "as_of": "2026-09-09"
    },
    {
      "series": "CPI.ZAF.HEADLINE",
      "frequency": "monthly",
      "country_iso3": "ZAF",
      "latest_date": "2026-01-01",
      "latest_value": 220.578586,
      "prior_value": 216.283925,
      "momentum_pct": 1.986,
      "momentum_3p_pct": 2.084,
      "n_obs": 216,
      "as_of": "2026-09-09"
    },
    {
      "series": "FX.EGP.USD",
      "frequency": "monthly",
      "country_iso3": "EGY",
      "latest_date": "2026-01-01",
      "latest_value": 50.45849,
      "prior_value": 47.560239,
      "momentum_pct": 6.094,
      "momentum_3p_pct": 6.02,
      "n_obs": 216,
      "as_of": "2026-09-09"
    },
    {
      "series": "FX.GHS.USD",
      "frequency": "monthly",
      "country_iso3": "GHA",
      "latest_date": "2026-01-01",
      "latest_value": 11.166055,
      "prior_value": 11.324674,
      "momentum_pct": -1.401,
      "momentum_3p_pct": -3.142,
      "n_obs": 216,
      "as_of": "2026-09-09"
    },
    {
      "series": "FX.KES.USD",
      "frequency": "monthly",
      "country_iso3": "KEN",
      "latest_date": "2026-01-01",
      "latest_value": 129.284461,
      "prior_value": 129.072826,
      "momentum_pct": 0.164,
      "momentum_3p_pct": 0.049,
      "n_obs": 216,
      "as_of": "2026-09-09"
    },
    {
      "series": "FX.NGN.USD",
      "frequency": "monthly",
      "country_iso3": "NGA",
      "latest_date": "2026-01-01",
      "latest_value": 1372.514209,
      "prior_value": 1451.313913,
      "momentum_pct": -5.43,
      "momentum_3p_pct": -6.278,
      "n_obs": 216,
      "as_of": "2026-09-09"
    },
    {
      "series": "FX.ZAR.USD",
      "frequency": "daily",
      "country_iso3": "ZAF",
      "latest_date": "2026-09-11",
      "latest_value": 16.1587,
      "prior_value": 16.1466,
      "momentum_pct": 0.075,
      "momentum_3p_pct": 0.841,
      "n_obs": 690,
      "as_of": "2026-09-13"
    },
    {
      "series": "FX.ZAR.USD",
      "frequency": "monthly",
      "country_iso3": "ZAF",
      "latest_date": "2026-01-01",
      "latest_value": 16.389014,
      "prior_value": 16.842761,
      "momentum_pct": -2.694,
      "momentum_3p_pct": -5.207,
      "n_obs": 216,
      "as_of": "2026-09-09"
    }
  ]
}