Moody's headlines crossing on Reuters.

  • Increased risks to global growth cloud outlook in 2016-17
  • Expect global growth to rise only very modestly in 2016-17
  • On China: forecasts GDP growth of 6.3% in 2016 and 6.1% in 2017
  • China's slowdown will be concentrated in heavy industry sectors that are significant importers

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That's last one:

  • China's slowdown will be concentrated in heavy industry sectors that are significant importers

That'll weigh on AUD