FTSE 100 futures eyeing a move above 8,400 ahead of UK GDP data

As noted here earlier this morning, at 6am GMT the UK will release its Q1 GDP report and that could have a significant impact on the Pound and the UK stock markets. Yesterday the FTSE 100 played second fiddle to the gains seen in the DAX and the CAC 40. That said, the FTSE 100 still rose to a new record high and later set a new all time closing high, at 8,381.35. The gains in the US stock markets last night and higher futures there this morning, coupled with the same for the DAX futures right now have delivered further gains for the FTSE 100 futures. So, just ahead of this important UK data, the index is priced to effectively reopen around 8,420. However, this UK GDP data due in around 10 minutes could either add, or detract from that outlook