A rough end to January – North American session Market wrap for January 30

[Ben Graham]

Log in to today's North American session Market wrap for January 30

The week is closing with extreme volatility.

In a stunning reversal, President Trump nominated Kevin Warsh as the next Fed Chair today, contradicting his statement from just two days ago that the decision would wait until next week.

This surprise hit fragile post-FOMC conditions and was amplified by brutal month-end flows.

Metals were decimated in a cascading liquidation event – Silver collapsed from $115 to lows near $70, while Gold plunged below $5,000.

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Metal Markets Daily Performance – Courtesy of Finviz

If these moves are primarily month-end profit-taking, Monday could offer a rebound – The situation is quite blurry for now.

However, if buyers don't step in immediately, this could quickly turn into a deeper liquidity shock so Monday will be ver.

Adding to the anxiety, an intervention in Iran appears imminent. Watch the headlines closely over the weekend.

Discover:

• The Fed Chair has been picked: Who is Kevin Warsh?
• US Stocks fall from Warsh's nomination – Month-End flows and US Index Outlook
• Silver down 30%! – Chaos in the Metals Market

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Market Close Heatmap – Source: TradingView – January 30, 2026

Cross-Assets Daily Performance

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Cross-Asset Daily Performance, January 30, 2026 – Source: TradingView

A picture of today's performance for major currencies

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Currency Performance, January 30, 2026 – Source: OANDA Labs

The US Dollar is back!

Watch the 97.00 level for the Dollar Index, any bounce above could infer further cascades relating to Kevin Warsh's appointment.

Major Earnings in Monday's session

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Earnings Calendar – January 28, 2026 – Source: Nasdaq.com

A look at Economic data releasing throughout the Weekend and Monday

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For all market-moving economic releases and events, see the MarketPulse Economic Calendar.

Safe Trades, keep a close eye on the Middle East!

Follow Elior on Twitter/X for Additional Market News, interactions and Insights @EliorManier

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