Global market wrap: market turns cautious on China - ANZ

Analysts at ANZ explained that China delivered a couple surprises on Friday as markets awaited US jobs data. 

Key Quotes:

"The PBoC reintroduced a 20% reserve requirement for FX forwards (giving risk a sudden boost) followed shortly after by an announcement of retaliatory tariffs on US imports (which saw the market turn more cautious)."

"US equities traded well through the news, with the S&P and DJIA up 0.5% as positive earnings reports more than offset the drag from energy on weaker oil prices."

"European shares also closed higher with key indices up 0.3-1.1%. USD was mixed with AUD and JPY outperforming."

"US Treasury yields were lower across the curve as lingering trade concerns likely led to a lift in safe-haven demand."