FTSE 100 set to effectively reopen below 200 day moving average as BOE decision looms

The European stock markets had already closed long before the slide in the US markets delivered some heavy falls across the European futures. Outside of the DAX, the European closes were modestly positive. The FTSE did not close above 8,200 though, ending the session just 3.91 points higher, at 8,199.11. Subsequent to the carnage on Wall Street last night the FTSE 100 futures did price an opening below 8,075 at one stage and right now that is around the 8,100 handle. The 200 day moving average was in place as of the close yesterday, at 8,182.90. So, it looks like the FTSE 100 is going to effectively reopen well below that level and with the BOE policy decision due to 12pm GMT today, the prospect of no change from them today is not a positive. There will be more to add in this and the Pound this morning in updates to follow