AUD, NZD, CNH all down: China PMI disappoints, worries re Country Garden potential default

CAD lower also. EUR and GBP dribbling along lonwer for the ride too.

China’s PMI was ugly:

• Chinese Caixin Services PMI for August 51.8 (expected 53.6, prior 54.1)

And Country Garden has a coupon payment due today, a USD one, that it missed in early August – the ‘grace period’ expires in the hours ahead.:

• Chinese developer Country Garden has only hours to meet US$22.5mn payments

In addition to those currencies above, Chinese shares are down also:

SSE is Shanghai Composite in the screenshot above.

This article was written by Eamonn Sheridan at www.forexlive.com. Source