Indicator notes

Pressure on the Kazakhstani tenge on September 26, 2025: 53.5 out of 100, in the “Moderate pressure” zone. The previous reading, on September 25, 2025, was 56.1 (“High pressure”): the indicator fell by 2.6 points and crossed the 55 boundary. The “Moderate pressure” zone covers readings from 45 to 55: pressure on the currency is close to what is usual for its history. The indicator spent a single trading day in the “High pressure” zone. Biggest component moves: “Currency weakening” at 57.5 versus 66.0 and “Exchange rate volatility” at 9.1 versus 11.0. This describes that date's reading; it is not a forecast.

Pressure on the Russian rouble on September 26, 2025: 42.5 out of 100, in the “Low pressure” zone. The previous reading, on September 25, 2025, was 45.9 (“Moderate pressure”): the indicator fell by 3.4 points and crossed the 45 boundary. The “Low pressure” zone covers readings from 25 to 45: pressure on the currency is weaker than usual. Before that the indicator had stayed in the “Moderate pressure” zone for 3 trading days in a row. Biggest component moves: “International reserves” at 25.5 versus 39.2 and “Exchange rate volatility” at 62.0 versus 61.6. This describes that date's reading; it is not a forecast.

Russian financial sector fear and greed index on September 25, 2025: 25.0 out of 100, in the “Fear” zone. The previous reading, on September 24, 2025, was 36.1: the index fell sharply by 11.1 points. That meets our shift threshold of 10 points; the zone did not change. The “Fear” zone covers readings from 25 to 45: investors are cautious and appetite for risk is below normal. The index has now spent 7 trading days in a row in this zone. Biggest component moves: “Stock price strength” at 7.9 versus 46.0 and “Sector momentum” at 15.0 versus 17.6. This describes that date's reading; it is not a forecast.

Russian industrial sector fear and greed index on September 25, 2025: 31.9 out of 100, in the “Fear” zone. The previous reading, on September 24, 2025, was 46.8 (“Neutral”): the index fell sharply by 14.9 points and crossed the 45 boundary. The “Fear” zone covers readings from 25 to 45: investors are cautious and appetite for risk is below normal. The index spent a single trading day in the “Neutral” zone. Biggest component moves: “Stock price strength” at 2.8 versus 56.6 and “Sector breadth” at 39.0 versus 45.9. This describes that date's reading; it is not a forecast.

Russian metals and mining sector fear and greed index on September 25, 2025: 43.5 out of 100, in the “Fear” zone. The previous reading, on September 24, 2025, was 45.4 (“Neutral”): the index fell slightly by 1.9 points and crossed the 45 boundary. The “Fear” zone covers readings from 25 to 45: investors are cautious and appetite for risk is below normal. The index spent a single trading day in the “Neutral” zone. Biggest component moves: “Stock price strength” at 5.9 versus 18.5 and “Sector volatility” at 61.8 versus 54.3. This describes that date's reading; it is not a forecast.

Bitcoin fear and greed index on September 25, 2025: 56.4 out of 100, in the “Greed” zone. The previous reading, on September 24, 2025, was 67.9: the index fell sharply by 11.5 points. That meets our shift threshold of 10 points; the zone did not change. The “Greed” zone covers readings from 55 to 75: appetite for risk is above normal and buying dominates. The index has now spent 18 trading days in a row in this zone. Biggest component moves: “Funding rate” at 30.8 versus 47.8 and “Price momentum” at 12.2 versus 28.9. 4 of 6 components were available. This describes that date's reading; it is not a forecast.

Pressure on the Kazakhstani tenge on September 25, 2025: 56.1 out of 100, in the “High pressure” zone. The previous reading, on September 24, 2025, was 54.7 (“Moderate pressure”): the indicator rose slightly by 1.4 points and crossed the 55 boundary. The “High pressure” zone covers readings from 55 to 75: pressure on the currency is clearly above usual. Before that the indicator had stayed in the “Moderate pressure” zone for 6 trading days in a row. Biggest component moves: “Currency weakening” at 66.0 versus 58.7 and “Exchange rate volatility” at 11.0 versus 12.5. This describes that date's reading; it is not a forecast.

Russian market fear and greed index on September 24, 2025: 44.2 out of 100, in the “Fear” zone. The previous reading, on September 23, 2025, was 45.3 (“Neutral”): the index fell slightly by 1.1 points and crossed the 45 boundary. The “Fear” zone covers readings from 25 to 45: investors are cautious and appetite for risk is below normal. Before that the index had stayed in the “Neutral” zone for 8 trading days in a row. Biggest component moves: “Safe haven demand” at 30.7 versus 43.6 and “Stock price strength” at 13.2 versus 4.3. This describes that date's reading; it is not a forecast.

Russian electric utilities sector fear and greed index on September 24, 2025: 52.8 out of 100, in the “Neutral” zone. The previous reading, on September 23, 2025, was 38.0 (“Fear”): the index rose sharply by 14.8 points and crossed the 45 boundary. The “Neutral” zone covers readings from 45 to 55: neither fear nor greed dominates. Before that the index had stayed in the “Fear” zone for 3 trading days in a row. Biggest component moves: “Stock price strength” at 92.3 versus 7.0 and “Sector volatility” at 23.1 versus 56.6. This describes that date's reading; it is not a forecast.

Russian financial sector fear and greed index on September 24, 2025: 36.1 out of 100, in the “Fear” zone. The previous reading, on September 23, 2025, was 26.0: the index rose sharply by 10.1 points. That meets our shift threshold of 10 points; the zone did not change. The “Fear” zone covers readings from 25 to 45: investors are cautious and appetite for risk is below normal. The index has now spent 6 trading days in a row in this zone. Biggest component moves: “Stock price strength” at 46.0 versus 4.4 and “Sector volatility” at 68.8 versus 71.5. This describes that date's reading; it is not a forecast.

Russian industrial sector fear and greed index on September 24, 2025: 46.8 out of 100, in the “Neutral” zone. The previous reading, on September 23, 2025, was 34.1 (“Fear”): the index rose sharply by 12.7 points and crossed the 45 boundary. The “Neutral” zone covers readings from 45 to 55: neither fear nor greed dominates. Before that the index had stayed in the “Fear” zone for 3 trading days in a row. Biggest component moves: “Stock price strength” at 56.6 versus 2.7 and “Sector breadth” at 45.9 versus 51.7. This describes that date's reading; it is not a forecast.

Russian IT and telecom sector fear and greed index on September 24, 2025: 44.0 out of 100, in the “Fear” zone. The previous reading, on September 23, 2025, was 45.6 (“Neutral”): the index fell slightly by 1.6 points and crossed the 45 boundary. The “Fear” zone covers readings from 25 to 45: investors are cautious and appetite for risk is below normal. Before that the index had stayed in the “Neutral” zone for 4 trading days in a row. Biggest component moves: “Sector volatility” at 57.0 versus 77.5 and “Stock price strength” at 19.5 versus 8.8. This describes that date's reading; it is not a forecast.

Russian metals and mining sector fear and greed index on September 24, 2025: 45.4 out of 100, in the “Neutral” zone. The previous reading, on September 23, 2025, was 44.0 (“Fear”): the index rose slightly by 1.4 points and crossed the 45 boundary. The “Neutral” zone covers readings from 45 to 55: neither fear nor greed dominates. The index spent a single trading day in the “Fear” zone. Biggest component moves: “Stock price strength” at 18.5 versus 8.2 and “Sector volatility” at 54.3 versus 60.6. This describes that date's reading; it is not a forecast.

Ether fear and greed index on September 24, 2025: 54.4 out of 100, in the “Neutral” zone. The previous reading, on September 23, 2025, was 55.3 (“Greed”): the index fell slightly by 0.9 points and crossed the 55 boundary. The “Neutral” zone covers readings from 45 to 55: neither fear nor greed dominates. Before that the index had stayed in the “Greed” zone for 7 trading days in a row. Biggest component moves: “Funding rate” at 4.8 versus 12.5 and “Implied volatility” at 85.1 versus 81.8. 4 of 6 components were available. This describes that date's reading; it is not a forecast.

Pressure on the Georgian lari on September 24, 2025: 44.1 out of 100, in the “Low pressure” zone. The previous reading, on September 23, 2025, was 45.3 (“Moderate pressure”): the indicator fell slightly by 1.2 points and crossed the 45 boundary. The “Low pressure” zone covers readings from 25 to 45: pressure on the currency is weaker than usual. The indicator spent a single trading day in the “Moderate pressure” zone. Biggest component moves: “Currency weakening” at 50.7 versus 61.0 and “Exchange rate volatility” at 52.5 versus 46.9. This describes that date's reading; it is not a forecast.

Russian metals and mining sector fear and greed index on September 23, 2025: 44.0 out of 100, in the “Fear” zone. The previous reading, on September 22, 2025, was 49.9 (“Neutral”): the index fell by 5.9 points and crossed the 45 boundary. The “Fear” zone covers readings from 25 to 45: investors are cautious and appetite for risk is below normal. Before that the index had stayed in the “Neutral” zone for 6 trading days in a row. Biggest component moves: “Stock price strength” at 8.2 versus 18.2 and “Sector volatility” at 60.6 versus 69.3. This describes that date's reading; it is not a forecast.

Pressure on the Georgian lari on September 23, 2025: 45.3 out of 100, in the “Moderate pressure” zone. The previous reading, on September 20, 2025, was 44.7 (“Low pressure”): the indicator rose slightly by 0.6 points and crossed the 45 boundary. The “Moderate pressure” zone covers readings from 45 to 55: pressure on the currency is close to what is usual for its history. Before that the indicator had stayed in the “Low pressure” zone for 27 trading days in a row. Biggest component moves: “Currency weakening” at 61.0 versus 58.6 and “Exchange rate volatility” at 46.9 versus 47.0. This describes that date's reading; it is not a forecast.

Pressure on the Serbian dinar on September 23, 2025: 43.4 out of 100, in the “Low pressure” zone. The previous reading, on September 20, 2025, was 47.7 (“Moderate pressure”): the indicator fell by 4.3 points and crossed the 45 boundary. The “Low pressure” zone covers readings from 25 to 45: pressure on the currency is weaker than usual. Before that the indicator had stayed in the “Moderate pressure” zone for 3 trading days in a row. Biggest component moves: “Exchange rate volatility” at 33.9 versus 56.1 and “Currency weakening” at 27.8 versus 22.7. This describes that date's reading; it is not a forecast.

Pressure on the Russian rouble on September 23, 2025: 45.1 out of 100, in the “Moderate pressure” zone. The previous reading, on September 20, 2025, was 44.9 (“Low pressure”): the indicator rose slightly by 0.2 points and crossed the 45 boundary. The “Moderate pressure” zone covers readings from 45 to 55: pressure on the currency is close to what is usual for its history. Before that the indicator had stayed in the “Low pressure” zone for 2 trading days in a row. Biggest component moves: “Currency weakening” at 78.7 versus 78.1 and “Exchange rate volatility” at 59.2 versus 59.0. This describes that date's reading; it is not a forecast.

High-yield bond market stress on September 22, 2025: 28.3 out of 100, in the “Low pressure” zone. The previous reading, on September 19, 2025, was 23.4 (“Calm”): the indicator rose by 4.9 points and crossed the 25 boundary. The “Low pressure” zone covers readings from 25 to 45: stress in the high-yield bond market is weaker than usual. The indicator spent a single trading day in the “Calm” zone. Biggest component moves: “Yield spread over government bonds” at 51.3 versus 46.0 and “Price lag behind the market” at 5.3 versus 0.8. 2 of 3 components were available. This describes that date's reading; it is not a forecast.

Financial anxiety in Armenia on September 21, 2025: 91.0 out of 100, in the “Surge of interest” zone. The previous reading, on September 14, 2025, was 58.7 (“Elevated interest”): the index rose sharply by 32.3 points and crossed the 75 boundary. The “Surge of interest” zone covers readings from 75 to 100: searches on the topic are far above usual. The index spent a single week in the “Elevated interest” zone. Biggest component moves: “Searches about the dollar rate” at 90.7 versus 43.9 and “Searches about deposits” at 91.3 versus 73.4. This describes that date's reading; it is not a forecast.

Financial anxiety in Belarus on September 21, 2025: 77.5 out of 100, in the “Surge of interest” zone. The previous reading, on September 14, 2025, was 32.6 (“Below-usual interest”): the index rose sharply by 44.9 points and crossed the 45, 55 and 75 boundaries. The “Surge of interest” zone covers readings from 75 to 100: searches on the topic are far above usual. The index spent a single week in the “Below-usual interest” zone. Biggest component moves: “Searches about the dollar rate” at 90.7 versus 20.2 and “Searches about devaluation” at 62.5 versus 0.3. This describes that date's reading; it is not a forecast.

Financial anxiety in Georgia on September 21, 2025: 91.3 out of 100, in the “Surge of interest” zone. The previous reading, on September 14, 2025, was 39.4 (“Below-usual interest”): the index rose sharply by 51.9 points and crossed the 45, 55 and 75 boundaries. The “Surge of interest” zone covers readings from 75 to 100: searches on the topic are far above usual. Before that the index had stayed in the “Below-usual interest” zone for 5 weeks in a row. Biggest component moves: “Searches about deposits” at 91.3 versus 23.4 and “Searches about the dollar rate” at 91.3 versus 55.4. This describes that date's reading; it is not a forecast.

Financial anxiety in Kyrgyzstan on September 21, 2025: 78.2 out of 100, in the “Surge of interest” zone. The previous reading, on September 14, 2025, was 50.3 (“Usual interest”): the index rose sharply by 27.9 points and crossed the 55 and 75 boundaries. The “Surge of interest” zone covers readings from 75 to 100: searches on the topic are far above usual. The index spent a single week in the “Usual interest” zone. Biggest component moves: “Searches about the dollar rate” at 89.4 versus 57.4 and “Searches about deposits” at 67.0 versus 43.3. This describes that date's reading; it is not a forecast.

Financial anxiety in Kazakhstan on September 21, 2025: 55.7 out of 100, in the “Elevated interest” zone. The previous reading, on September 14, 2025, was 33.9 (“Below-usual interest”): the index rose sharply by 21.8 points and crossed the 45 and 55 boundaries. The “Elevated interest” zone covers readings from 55 to 75: searches on the topic are above usual. Before that the index had stayed in the “Below-usual interest” zone for 5 weeks in a row. Biggest component moves: “Searches about devaluation” at 47.8 versus 14.4 and “Searches about the dollar rate” at 80.4 versus 58.7. This describes that date's reading; it is not a forecast.

Financial anxiety in Russia on September 21, 2025: 55.9 out of 100, in the “Elevated interest” zone. The previous reading, on September 14, 2025, was 27.7 (“Below-usual interest”): the index rose sharply by 28.2 points and crossed the 45 and 55 boundaries. The “Elevated interest” zone covers readings from 55 to 75: searches on the topic are above usual. Before that the index had stayed in the “Below-usual interest” zone for 3 weeks in a row. Biggest component moves: “Searches about the dollar rate” at 81.7 versus 33.0 and “Searches about devaluation” at 37.5 versus 4.2. This describes that date's reading; it is not a forecast.

Financial anxiety in Tajikistan on September 21, 2025: 84.9 out of 100, in the “Surge of interest” zone. The previous reading, on September 14, 2025, was 68.3 (“Elevated interest”): the index rose sharply by 16.6 points and crossed the 75 boundary. The “Surge of interest” zone covers readings from 75 to 100: searches on the topic are far above usual. The index spent a single week in the “Elevated interest” zone. Biggest component moves: “Searches about the dollar rate” at 84.3 versus 67.0 and “Searches about deposits” at 85.6 versus 69.6. This describes that date's reading; it is not a forecast.

Pressure on the Georgian lari on September 20, 2025: 44.7 out of 100, in the “Low pressure” zone. The previous reading, on September 19, 2025, was 32.2: the indicator rose sharply by 12.5 points. That meets our shift threshold of 10 points; the zone did not change. The “Low pressure” zone covers readings from 25 to 45: pressure on the currency is weaker than usual. The indicator has now spent 27 trading days in a row in this zone. Biggest component moves: “Exchange rate volatility” at 47.0 versus 19.1 and “Currency weakening” at 58.6 versus 36.7. This describes that date's reading; it is not a forecast.

Russian electric utilities sector fear and greed index on September 19, 2025: 41.3 out of 100, in the “Fear” zone. The previous reading, on September 18, 2025, was 52.5 (“Neutral”): the index fell sharply by 11.2 points and crossed the 45 boundary. The “Fear” zone covers readings from 25 to 45: investors are cautious and appetite for risk is below normal. Before that the index had stayed in the “Neutral” zone for 3 trading days in a row. Biggest component moves: “Stock price strength” at 10.6 versus 48.7 and “Sector momentum” at 54.7 versus 59.4. This describes that date's reading; it is not a forecast.