Now perhaps the biggest headlines surrounded the US stock market and oil.

We saw another day of sharp directions in the oil price that spooked the stock market. The S&P 500 is now down for the year.

Now it's popular to blame almost all of what's happened to the stock market on the energy sector, and there is some reason for that.

But, as this chart shows, that can be very much overdone. The green line there is the S&P 500. Energy sector obviously had a horrible time of it this year,

investors really haven't expected oil to..., the oil price to say where it is.

But if you then look at that red line there, which is the S&P 500 excluding the energy companies, you can see yes it is just about positive for the year.

But it's very much of thoroughly unexciting year that's been had by the rest of the US stock market,

many of which, many of the stocks in that index, exclude the energy, would of course benefit significantly from cheaper oil.

So you still plainly have to contend with the fact that the US stock market is not in the greatest of health even if you discount the effect of oil.

Now, elsewhere we saw the Dollar weaken quite considerably against the Euro.

That was without any big move in the bond market. There without any shift in the expectations for the Fed for next week.

Still, it seemed there's a raising certainty the Fed will be raising rates.

Meanwhile, you also saw the Dollar strengthened against emerging market currencies,

spectacularly so in the case in the South African rents. Emerging market currencies in general on that

will beginning to fall quite close to the levels that had been in September which prompted the Fed to decide not to go through with the rate rise then.

Perhaps most importantly for the long term, however, I'd like to show you this chart, carrying up which is of the Chinese currency.

Obviously the single scariest moment as far as many in world market would concern of 2015

was when the Chinese allowed their currency to devalue very sharply by its own standards in the middle of August.

The currency would steadily managed stronger for couple of months up to that. You can see it in the last few days.

It has been allowed to fall once more. It is now significantly weaker than was on the day of all that excitement back in August.

It makes eminent sense for the Chinese to allow their currency to devalue.

If they want to become more of the market, that currency become an elective part of the SDRs run by the IMF

plainly makes more sense for them to follow the market, which would imply a weaker Chinese currency.

Obviously, a weaker Chinese currency would have very intriguing effects for the rest of the world.

Let's expect this is one to watch.