What’s going on with the Lloyds (LLOY) share price?

Lloyds (LON: LLOY) share price has retreated in the past three straight weeks as traders wait for the upcoming UK bank earnings. The stock retreated to a low of 47.20p on Monday, slightly lower than last month’s high of 48.37p.

Bank earnings and UK housing data

The Lloyds Bank stock price has moved sideways in the past few months as investors watch the performance of the UK economy and the upcoming US bank earnings season. There are signs that the British economy is doing better than expected.

On Friday, data by Halifax, a company owned by Lloyds, showed that the country’s house price index (HPI) rose for three straight months in December. This report confirmed a previous one by Nationwide Societies.

The housing market is crucial for Lloyds because it is the biggest mortgage lender in the country. It is also a major direct player in the property market, where it hopes to become the biggest landlord.

A separate report by the Bank of England (BoE) revealed that the country’s mortgage and general lending continued rising in December. The country’s manufacturing and services PMIs for December were also better than expected.

Lloyds Bank is an integral part of the British economy because it is the biggest retail bank in the country. It serves more than 25 million customers, providing them with loans and other banking solutions.

The next key catalyst for the Lloyds Bank stock will be the upcoming US bank earnings season, which will start this week. Some of the notable companies that will publish these reports are JPMorgan, Bank of America, Citigroup, and Wells Fargo.

These American banks are much different than Lloyds. For one, most of them don’t have a substantial presence in the UK. They also make a lot of money in investment banking where Lloyds is not involved.

Still, their results tend to set the tone for other British banks like Lloyds and Barclays. Analysts expect the results to show that their non-performing loans (NLP) continued rising in the third quarter.

As a result, most of them are increasing their cost-cutting measures to boost profitability. Lloyds Bank is in the process of laying off over 2,500 staff as its shakeup continues.

LLOY chart by TradingView

Lloyds Bank is the most popular British bank stocks among investors. While most retail investors love it, I am not a big fan because of its long history of underperformance, as I warned here. Its stock remains 25% below the highest point in 2025. And in the past three years, it has struggled to move above the resistance point at 51.43p.

Lloyds stock remains above the 50-day and 100-day Exponential Moving Averages (EMA), which is a positive sign. However, I am still negative about the stock in the near term. A buy signal will only emerge when the stock flips the key resistance at 51.43p into a support point.