The information source I refer to [Water Travel]

Since the widespread use of the Internet, there has been an enormous amount of information circulating in society, from highly influential to less influential. In such an information society, what sources does Noriyuki Mizukami consult when analyzing the market?

*This article is a reprint and edited version of an article from FX攻略.com February 2019 issue. Please note that the market information described in the main text differs from the current market.

Noriyuki Mizukami Profile

Mizukami Noriyuki. Founder of Vinya Market Focus. After graduating from Sophia University with a degree in economics in 1978, he joined Sanwa Bank (now Mitsubishi UFJ Financial Group). After five years in branch operations, he worked as a currency dealer in London, Tokyo, and New York. In the Tokyo Foreign Exchange Market, he is known as “Mizukami of Sanwa.” He served as Foreign Exchange Department Manager at Dresdner Bank. From 1996, at RBS Bank, he held roles including Foreign Exchange Department Manager and Head of Foreign Exchange Sales. Since 2007, he is the representative of Vinya Market Focus. He is highly regarded for his precise market forecasts based on years of experience and knowledge.

Two types: objective information and insider information

I believe there are two kinds of information. One is “objective information,” and the other is “insider information.” Objective information is information that anyone can access from sources like Reuters, Bloomberg, NHK, and Nihon Keizai Shimbun, whereas insider information is not ordinarily accessible and includes real-time market positions and order flow. Indeed, there is something called the Chicago IMM positions, which is objective information, but since positions are released on Fridays for the prior Tuesday, it is not real-time information and is only for reference.

In the first place, as compliance becomes stricter nowadays, obtaining insider information becomes nearly impossible, and the existence of insider information itself should be viewed with suspicion. For example, if a banker leaked information eight years ago, there could be retroactive arrests. It is not worth taking on such risks just to provide insider information. Therefore, reading between the lines of objective information is essential. In other words, it means you need to infer the market based on objective information.