China’s new anti-dumping duty targeting European brandy unexpectedly became the toast of France over the weekend, after Beijing granted exemptions to a string of French cognac makers.
The cordial reaction in Paris came as a surprise to many analysts, who had initially predicted that China’s decision to impose the tariff might further raise tensions with the European Union and sour preparations for an upcoming leaders’ summit in Beijing.
But French leaders ended up hailing the ruling as a “positive step”, after a deal was brokered that saw major producers including Hennessy, Martell and Rémy Martin sign on to a minimum export price that exempted them from the levy.
That allowed Chinese foreign minister Wang Yi to wrap up his European tour on a positive note on Sunday, with Beijing having published an official list of 34 companies exempted from the tariff and French industry insiders sharing that the move could have a huge impact.
The exemptions will cover roughly 90 per cent of French cognac exports to China in volume terms, according to France’s Union Générale des Viticulteurs pour l’AOC Cognac (UGVC), a producers’ union with 2,000 members.
French foreign minister Jean-Noël Barrot framed China’s announcement as an “agreement” reached between China and the cognac industry at a joint press conference with Wang on Friday evening, Paris time.
Datadog shares remain in focus after soaring to a six month high at the end of last week on news that the cloud monitoring company will be joining the S&P 500 on July 9.
The stock broke out from a rising wedge pattern on the highest daily volume since going public in September 2019.
Investors should watch key overhead areas on Datadog’s chart around $170 and $205, while also monitoring important support levels near $135 and $125.
Datadog (DDOG) shares remain in focus after soaring to a six-month high at the end of last week on news that the cloud monitoring company will be joining the S&P 500 on July 9.
Typically, stocks that get included into benchmarks like the large cap S&P 500 receive a boost as they become visible to new investors and get added to index-tracking exchange-traded funds (ETFs).
Datadog shares lost more than half their value between December and April as uncertainty over the Trump administration’s tariffs and downbeat earnings projections from the compamy pummeled the stock. However, they have nearly doubled from their 2025 low and are up about 9% since the start of the year, boosted by renewed investor appetite for cloud and AI stocks. The stock jumped 15% to around $155 on Thursday, ahead of the July 4th break.
Below, we take a closer look at Datadog’s chart and use technical analysis to point out price levels that investors will likely be watching.
Bullish Rising Wedge Breakout
After bottoming in early April, Datadog shares traded higher within a rising wedge before staging a decisive breakout in Thursday’s trading session. Importantly, the jump occurred on the highest daily volume since the stock went public in September 2019, signaling strong buying conviction from larger market participants.
While the relative strength index confirms bullish price momentum, it also flashes extreme overbought conditions, potentially raising the possibility of short-term profit-taking.
Let’s identify two key overhead areas on Datadog’s chart to watch and locate important support levels worth monitoring.
Key Overhead Areas to Watch
Follow-through buying this week could see the shares climb to the $170 area. The price may run into selling pressure in this location near the prominent December swing high.
Investors can project an upside target above this area by using the bars pattern tool. When applying the analysis, we take the stock’s trend higher that followed an earlier breakaway gap on the chart in November 2023 and reposition it from the low of Thursday’s gap. This projects a bullish target of around $205, about 32% above last week’s closing price.
Important Support Levels Worth Monitoring
Profit-taking in the stock could see a retracement toward $135. This area would likely attract strong support near a trendline that connects the top of the rising wedge with a series of price action on the chart stretching back to January last year.
A deeper correction could trigger a decline to lower support around $125. Datadog shares find a confluence of support in this region near the 200-day moving average and a horizontal line that links a range of corresponding trading activity on the chart between December 2023 and June this year.
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As of the date this article was written, the author does not own any of the above securities.
Forget the usual salted caramel or white chocolate. A new wave of Indian chocolatiers and pastry chefs is infusing flavours like paan, kaapi, gulkand, and even imli into European-style bonbons, truffles, and ganaches. The result? Artisanal chocolates that surprise, comfort, and stir a deep sense of nostalgia. This Chocolate Day, we explore some bold desi flavours redefining the cocoa experience. Smriti Bhatia, chocolatier, says, “Our choco-paan wraps, chocolate chutney tadka and kabuli chana chocolates are absolute bestsellers. These flavours may sound experimental, but they’re deeply familiar to Indian palate.” Ananya Deshpande, chocolatier, adds, “Indian flavours like cardamom and masala chai work beautifully with chocolate – they add warmth, depth, and a familiar comfort that people instantly connect with.”
Flavours that are getting a gourmet spin:
Paan: Betel leaf, gulkand, and fennel in dark ganacheFilter coffee: South Indian kaapi reduction in milk chocolateKesar-pista: Saffron-pistachio pralines in white chocolate shellsJamun: Tart fruit purée folded into ruby chocolateNolen gur: Bengal’s winter jaggery in caramel trufflesMasala chai: Black tea and spice blend in semi-sweet ganacheKaala namak & imli: Tangy bonbons with tamarind caramel
On Monday, the People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.1506 as compared to Friday’s fix of 7.1535 and 7.1626 Reuters estimate.
PBOC FAQs
The primary monetary policy objectives of the People’s Bank of China (PBoC) are to safeguard price stability, including exchange rate stability, and promote economic growth. China’s central bank also aims to implement financial reforms, such as opening and developing the financial market.
The PBoC is owned by the state of the People’s Republic of China (PRC), so it is not considered an autonomous institution. The Chinese Communist Party (CCP) Committee Secretary, nominated by the Chairman of the State Council, has a key influence on the PBoC’s management and direction, not the governor. However, Mr. Pan Gongsheng currently holds both of these posts.
Unlike the Western economies, the PBoC uses a broader set of monetary policy instruments to achieve its objectives. The primary tools include a seven-day Reverse Repo Rate (RRR), Medium-term Lending Facility (MLF), foreign exchange interventions and Reserve Requirement Ratio (RRR). However, The Loan Prime Rate (LPR) is China’s benchmark interest rate. Changes to the LPR directly influence the rates that need to be paid in the market for loans and mortgages and the interest paid on savings. By changing the LPR, China’s central bank can also influence the exchange rates of the Chinese Renminbi.
Yes, China has 19 private banks – a small fraction of the financial system. The largest private banks are digital lenders WeBank and MYbank, which are backed by tech giants Tencent and Ant Group, per The Straits Times. In 2014, China allowed domestic lenders fully capitalized by private funds to operate in the state-dominated financial sector.
As news spread that Vietnam would become just the second nation to reach an initial tariff agreement with Washington, shares in the clothing companies and manufacturers that have a large footprint in the country rose with optimism.
Just hours later though, they declined sharply, as it became clear that the devil would be in the detail, and the most striking part of the deal might in fact be aimed at Vietnam’s powerful neighbour China.
Dodging the severe levy of 46% that was threatened in April, Vietnam is instead facing a tariff of 20% for many goods, and in return US products coming into the country will have zero tariffs placed on them.
However, a 40% tariff will remain for so-called transshipments – a provision that is aimed at Chinese companies accused of passing their products through Vietnam, or elsewhere, to avoid US tariffs.
Businesses worry that “transshipment” is a politicised term, and that if the US defines it too broadly, many goods could be unfairly targeted.
“Vietnam is a manufacturing hub – and as a hub you take inputs from other countries and make value-added stuff in Vietnam, and then export it to other countries,” says Dr Nguyen Khac Giang, visiting fellow at the ISEAS Yusof Ishak Institute.
It is unrealistic, he adds, to expect most Vietnamese goods, other than agricultural products, would be made entirely in Vietnam. What remains to be decided is: what proportion of a product should be?
How transshipments will be defined under the agreement – and how this policy will be enforced – remains to be seen, but it could have significant implications for global trade and tensions with China.
Workers at a garment factory in Vietnam’s Thai Nguyen province. Photograph: Nhac Nguyen/AFP/Getty Images
“One lesson for other countries is that the US intends to use these deals to apply pressure on China,” said Stephen Olson, a former US trade negotiator.
Vietnam, a booming manufacturing hub, benefited during the last Trump administration when punishing tariffs placed on China prompted many Chinese companies to shift their supply chains.
However, this caused the Vietnamese trade surplus with the US to surge, attracting US ire and allegations that Vietnam was wrongly acting as a conduit for Chinese companies wanting access to the US market.
China’s commerce ministry spokesperson He Yongqian responded to the US-Vietnam deal on Thursday stating: “We firmly oppose any party reaching a deal at the expense of China’s interests. If such a situation occurs, China will resolutely counter it to safeguard its legitimate rights and interests.”
Vietnam’s manufacturing industry is closely intertwined with both the US and China. US exports account for 30% of Vietnam’s GDP, while China is Vietnam’s top import source, relied on for raw materials used to make anything from footwear to furniture and electronics.
Vietnam is not alone in relying on China for such components, especially across electronic sectors. “[China] is completely interwoven into global supply chains,” says Dan Martin, international business adviser at Dezan Shira and Associates, based in Hanoi.
If companies are expected to prove the origin of all goods, this could place an unwelcome burden on those in sectors such as textiles where margins are low, says Martin.
However, he cautions that it remains to be seen whether the higher 40% tariff on transshipments will be actively enforced. It is also possible that Vietnam could benefit if US policy encourages suppliers to set up shop in Vietnam, Martin adds.
Workers at a garment factory in Ho Chi Minh, Vietnam. Photograph: Anadolu/Getty Images
Businesses are largely pausing decisions until a clearer picture emerges, say analysts.
Policymakers in Hanoi remain on a diplomatic tightrope. Vietnam has long sought to balance relations with Washington and Beijing. It considers the US not only a key export market but a security partner that serves as a counterbalance to China’s assertiveness.
However, if Beijing considers that Hanoi is helping Washington constrain it, this risks antagonising Vietnam’s northern neighbour. It could lead to economic measures from China, or pressure over the disputed South China Sea, a major flashpoint in the region, says Peter Mumford, head of practice for south-east Asia at Eurasia Group.
As things stand, “aggressive retaliation” by Beijing against Hanoi is unlikely, he says: “Hanoi may even have given Beijing a rough indication of the steps it would have to take to secure a US trade deal.”
Vietnam has made efforts to show goodwill towards China over recent months, while also courting Trump.
In exchange for the 20% tariff rate, Trump said Vietnam would open up its market to US goods. US-made SUVs, “which do so well in the United States, will be a wonderful addition to the various product lines within Vietnam”, said Trump.
However the market for cars remains small in Vietnam, where city streets are famously crammed with millions of motorbikes.
Gold price edges lower to near $3,320 in Monday’s early Asian session.
Strong US June employment data weighs on the Gold as Fed rate cut odds decline.
Middle East geopolitical risks and renewed trade tensions might cap the downside for the Gold price.
The Gold price (XAU/USD) attracts some sellers to around $3,320 during the early Asian session on Monday. The precious metal edges lower as the US June Nonfarm Payrolls (NFP) report altered the US Federal Reserve (Fed) policy expectations. Traders brace for the Federal Open Market Committee (FOMC) Minutes later on Wednesday for fresh impetus.
The US NFP came in stronger than expected, rising by 147,000 jobs in June from 144,000 in May (revised from 139,000). Additionally, the Unemployment Rate held steady at 4.1% in June. These reports indicated continued labor market resilience, reducing the possibility of the Fed’s near-term monetary accommodation. This, in turn, underpins the US Dollar (USD) and exerts some selling pressure on the non-yielding assets like Gold.
On the other hand, the potential downside of yellow metal might be limited amid the renewed geopolitical tensions in the Middle East. Israel stated late Sunday that the country’s military had attacked Houthi targets at three ports and a power plant in Yemen. Defence Minister Israel Katz confirmed the attack, saying they were carried out due to repeated attacks by the Iranian-backed rebel group on Israel. Any sign of escalation could boost the safe-haven flows, benefiting the gold price.
Gold traders will closely monitor the developments surrounding tariff policies. CBBC reported on Sunday that US Treasury Secretary Scott Bessent said that US President Donald Trump will send letters to some trading partners saying tariffs will return to April 2 levels on August 1 if there is no progress on the trade agreement. Renewed trade tensions might lift the Gold price in the near term.
Gold FAQs
Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
Oil extended declines after OPEC+ agreed to a bigger-than-expected production increase next month, raising concerns about oversupply just as US tariffs fan fears about the demand outlook.
Brent slid as much as 1.6% toward $67 a barrel after falling 0.7% on Friday, and West Texas Intermediate was near $66. The group led by Saudi Arabia decided on Saturday to increase supply by 548,000 barrels a day, putting OPEC+ on track to unwind its most recent output cuts a year earlier than planned.
