{
  "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": "b728e00d5d586a0b",
  "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": 800.442478,
      "prior_value": 780.235988,
      "momentum_pct": 2.59,
      "momentum_3p_pct": 3.097,
      "n_obs": 216,
      "as_of": "2026-08-11"
    },
    {
      "series": "CPI.GHA.HEADLINE",
      "frequency": "monthly",
      "country_iso3": "GHA",
      "latest_date": "2026-01-01",
      "latest_value": 877.022977,
      "prior_value": 871.528472,
      "momentum_pct": 0.63,
      "momentum_3p_pct": 2.491,
      "n_obs": 216,
      "as_of": "2026-08-11"
    },
    {
      "series": "CPI.KEN.HEADLINE",
      "frequency": "monthly",
      "country_iso3": "KEN",
      "latest_date": "2026-01-01",
      "latest_value": 276.791682,
      "prior_value": 274.823617,
      "momentum_pct": 0.716,
      "momentum_3p_pct": 1.525,
      "n_obs": 216,
      "as_of": "2026-08-11"
    },
    {
      "series": "CPI.NGA.HEADLINE",
      "frequency": "monthly",
      "country_iso3": "NGA",
      "latest_date": "2026-01-01",
      "latest_value": 927.017291,
      "prior_value": 945.028818,
      "momentum_pct": -1.906,
      "momentum_3p_pct": -0.171,
      "n_obs": 216,
      "as_of": "2026-08-11"
    },
    {
      "series": "CPI.ZAF.HEADLINE",
      "frequency": "monthly",
      "country_iso3": "ZAF",
      "latest_date": "2026-01-01",
      "latest_value": 216.91023,
      "prior_value": 216.283925,
      "momentum_pct": 0.29,
      "momentum_3p_pct": 0.386,
      "n_obs": 216,
      "as_of": "2026-08-11"
    },
    {
      "series": "FX.EGP.USD",
      "frequency": "monthly",
      "country_iso3": "EGY",
      "latest_date": "2026-01-01",
      "latest_value": 48.705307,
      "prior_value": 47.560239,
      "momentum_pct": 2.408,
      "momentum_3p_pct": 2.336,
      "n_obs": 216,
      "as_of": "2026-08-11"
    },
    {
      "series": "FX.GHS.USD",
      "frequency": "monthly",
      "country_iso3": "GHA",
      "latest_date": "2026-01-01",
      "latest_value": 10.842834,
      "prior_value": 11.324674,
      "momentum_pct": -4.255,
      "momentum_3p_pct": -5.945,
      "n_obs": 216,
      "as_of": "2026-08-11"
    },
    {
      "series": "FX.KES.USD",
      "frequency": "monthly",
      "country_iso3": "KEN",
      "latest_date": "2026-01-01",
      "latest_value": 129.118856,
      "prior_value": 129.072826,
      "momentum_pct": 0.036,
      "momentum_3p_pct": -0.079,
      "n_obs": 216,
      "as_of": "2026-08-11"
    },
    {
      "series": "FX.NGN.USD",
      "frequency": "monthly",
      "country_iso3": "NGA",
      "latest_date": "2026-01-01",
      "latest_value": 1384.750566,
      "prior_value": 1451.313913,
      "momentum_pct": -4.586,
      "momentum_3p_pct": -5.442,
      "n_obs": 216,
      "as_of": "2026-08-11"
    },
    {
      "series": "FX.ZAR.USD",
      "frequency": "daily",
      "country_iso3": "ZAF",
      "latest_date": "2026-08-13",
      "latest_value": 16.1188,
      "prior_value": 16.1343,
      "momentum_pct": -0.096,
      "momentum_3p_pct": -0.361,
      "n_obs": 669,
      "as_of": "2026-08-14"
    },
    {
      "series": "FX.ZAR.USD",
      "frequency": "monthly",
      "country_iso3": "ZAF",
      "latest_date": "2026-01-01",
      "latest_value": 16.315971,
      "prior_value": 16.842761,
      "momentum_pct": -3.128,
      "momentum_3p_pct": -5.629,
      "n_obs": 216,
      "as_of": "2026-08-11"
    }
  ]
}