The actual trade figures don’t matter and have not mattered for a while now
China soybean imports from Brazil surged in July, according to customs data, as China brought in 8.18 million tonnes of soybeans from Brazil last month – the figure is up by 27% from the 6.42 million tonnes imported in July 2019.

Forex news from the European trading session – 25 August 2020
Headlines:
Markets:
– GBP leads, JPY lags on the day
– European equities higher; E-minis up 0.4%

EUR/JPY pushes to a session high of 125.72 on the Ifo report
The pair has been nudging higher over the past hour, helped by a weaker yen as well with the currency slipping amid higher bond yields on the session.

Comments by German finance minister, Olaf Scholz
the ‚debt brake‘ issue
A potential market concern is that the economy may be moving in the right direction, so lawmakers choose not to suspend the ‚debt brake‘, but that in itself may hinder the path towards a quicker and more sustained recovery down the road.

It is a risk-on session for the most part in European trading so far today
The more positive risk tilt comes on the back of optimistic comments from the and with regards to trade talks from earlier in the day.

Positive sentiment, but for how long?
Other markets
The USD has shown broad weakness on the session as risk on sentiment has dominated. 
The session started very slowly with narrow ranges across the major pairs. The general sentiment was positive on news from the handover that the US is planning to allow emergency use of plasma in the

Rising debt
The UK has to decide how to handle its rising debt level which has now increased to more than £2 trillion. UK borrowing is now above 100% of its GDP for the first time since 1963.  

Via Reuters
The role of tech leading the way through COVID-19 was once again confirmed last week when Alibaba beat estimates. Here was the headlines: 
Alibaba’s stock has risen 23% this year as a ’stay at home‘ stock which investors have been backing as winners in a COVID-19 shut down world. Alibaba is also seen as a

Via Reuters

via Bloomberg
. 
Seeing the rise in SNB deposits makes me think the SNB face another uphill battle to keep the EURCHF pair supported
An article from Bloomberg just out supports the same outllook seeing downside ahead for the EURCHF. Here is the rationale: