EUR and Commodity Strength Supports Modestly Positive ES Open

While EURUSD is off its highs of the evening so far, it remains 20-30pips higher and is mildly supportive (given EURJPY's move) of the 7pt better open in ES (the e-mini S&P 500 futures contract). The Italian austerity measures seem the main driver which is odd given this is not news and was fully expected. Oil is also popping (WTI above $101.50 now and Brent popping), on the Iran news we assume (both at 3 week highs now), and Gold is above $1750 as Silver outperforms +1.3% (over $33) from

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