The USD/JPY exchange rate rose for six consecutive days after the latest Japan inflation data and as traders reacted to the upcoming US figures. It rose to a high of 152.80, its highest level since October 9 this year. It has now jumped by over 9.17% from its lowest level this year.

Japan inflation and stimulus 

The USD/JPY exchange rate rose after a report by the statistics agency showed that the headline Consumer Price Index (CPI) rose 0.1% in September, leading to an annualized figure of 2.9%. The annual inflation rate was higher than the median estimate of 2.7%.

This report also showed that the core inflation, which excludes the volatile food and energy prices, eased from 3.3% to 3% on an annualized basis.

These numbers remain much higher than the Bank of Japan’s target of 2.0%, meaning that there is a chance that it will hike interest rates this year. Polymarket traders are betting that officials will leave them unchanged in the meeting next week.

The Japanese yen has softened after Sanae Takaichi became the first woman prime minister of Japan this week. She immediately called for more stimulus – printing money – to tackle inflation.

Takaichi proposed a $92.19 billion stimulus, which is higher than the $92 billion that her predecessor asked for last year. In addition to tackling inflation, her measures are aimed at boosting key industries and national security.

Some of the stimulus measures include eliminating the gasoline tax and boosting grants to local governments and small and medium-sized businesses.

The challenge is that these measures typically lead to a higher inflation rate, raising the odds of more BoJ tightening.

US inflation data ahead 

The USD/JPY exchange rate rose as investors waited for the upcoming US consumer inflation data, which will come out later on Friday.

The Bureau of Labor Statistics (BLS) is publishing the report despite the ongoing government shutdown because of its role in social security administration and its cost-of-living adjustment.

Analysts believe that US inflation held steady in September. Most Polymarket traders expect the data to show that the headline CPI rose from 2.9% in August to 3.0% in September. 

Economists polled by Reuters expect the data to show that the headline CPI rose from 2.9% to 3.1% during the month.

These numbers will likely have an impact on next week’s Federal Reserve interest rate decision. A figure higher than expected will make it a bit difficult for the Federal Reserve to cut interest rates. On the other hand, a number below or in line with expectations will raise the odds of the bank cutting rates.

USD/JPY technical analysis 

The daily timeframe chart shows that the USD/JPY pair has been in a strong uptrend in the past few months, moving from a low of 139.95 in April to 152.80 today.

The pair formed a gap on October 3 after it emerged that Takaichi would become the prime minister. It then formed a golden cross pattern on October 8 as the 50-day and 200-day Exponential Moving Averages (EMA) crossed each other.

The pair has moved above the 61.8% Fibonacci Retracement level at 151.6 and the Ichimoku cloud indicator.

Therefore, the most likely scenario is where the pair pulls back a bit now that it has formed a double-top pattern at 153.13. A double-top is made up of two up-swings and a neckline, which, in this case, is at 149.

The bearish USD/JPY forecast will become invalid if it moves above the double-top level of 153.13. Such a move will trigger more gains towards the 78.6% retracement level at 154.8.

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The FTSE 100 Index rose for four consecutive days and reached its all-time high of £9,578 as traders reacted to key earnings and macro data. It has jumped by over 27% from its lowest level this year. This article explores the top FTSE 100 shares to watch next week.k

Top FTSE 100 shares to watch

The FTSE 100 Index will have two main catalysts next week: earnings and the Federal Reserve decision. The Fed decision will be notable as it comes at a time when the US is in a government shutdown. A rate cut will likely be bullish for global stocks. 

The top FTSE 100 companies that will publish their results are HSBC, Standard Chartered, GlaxoSmithKline, Shell, Standard Chartered, and Haleon. 

HSBC (HSBA)

HSBC, the biggest European bank by assets, will be one of the top FTSE 100 stocks to watch next week as it publishes its earnings on Monday. These numbers come a few days after other banks like Lloyds, Barclays, and NatWest published their results. 

HSBC’s results also come after the company announced its full acquisition of Hang Seng Bank, as it seeks to grow its Asian business. 

The most recent results showed that HSBC’s profit after tax dropped to $12.4 billion in the first half of the year from $17.6 billion. This decline was due to one-time charges related to it exist of the Argentinian and Canadian markets. It also suffered from its Bank of Communications exposure. 

Analysts expect the upcoming results to show that the earnings per share slipped to 24 cents as its revenue slowed to $12.38 billion.

Read more: HSBC appoints ex-NatWest executive David Lindberg to lead UK arm

GlaxoSmithKline (GSK)

GSK is another top FTSE 100 Index stock to watch next week as it releases its numbers on Tuesday. These numbers come as its stock is trading at 1,646p, up sharply from the year-to-date low of 1,215p. 

GSK recently boosted its full-year guidance, which explains why the stock has been resilient. It now expects the annual results to show that the turnover will be at the upper side of the 3% to 5% range. 

Similarly, core operating profit and earnings per share (EPS) will be towards the upper side of expectations. The company is benefiting from the strong demand of specialty medicines. 

Shell 

Shell share price has been in a strong uptrend this year and is now hovering at its highest level this year. It has jumped from a low of 2,225p to 2,845p. This week’s gains happened after crude oil prices jumped after Trump delivered new sanctions on Russia’s Rosneft and Lukoil.

In a recent note, Shell noted that its oil and gas trading business rebounded in the third quarter. The company is benefiting from an increase in its LNG liquefaction volume and oil and gas output. However, its chemicals business continued to struggle and will be the main drag when it releases its results next week. 

Standard Chartered (STAN)

Standard Chartered is another top FTSE 100 Index stock to watch next week as it releases its numbers. These results come as its stock has pulled back from the year-to-date high of 1,512p to the current 1,402p. 

The most recent consensus report shows that the underlying net interest income will be $2.62 billion, while its other income will be $2.3 billion. Its underlying profit before taxation will be $1.7 billion as its credit impairment will be over $252 billion. 

Haleon (HLN)

Haleon, the maker of Sensodyne, Aquafresh, Panadol, Advil, and Eno, will be another top company to watch next week. These numbers come as its stock remains under pressure after falling from the year-to-date high of 420p to the current 350p.

Analysts expect the results to show that the revenue rose to £2.7 billion, a 3.3% increase from the same period last year. Most of this growth will be from the EMEA, LatAM, and Asia Pacific regions and offset by North America.

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The CAC 40 Index, which tracks the biggest French companies, continued its strong rally, reaching its highest point since March this year as investors cheered some key earnings. It rose to a record high of €8,270, up by 22% from its lowest point this year.

CAC 40 Index rose after key earnings

The main catalyst for the CAC 40 Index has been the relatively better-than-expected financial results by luxury brands. LVMH stock price jumped to €635, its highest level since March 11 and 42% above its current level. 

This performance happened as the company reported a return to growth in the third quarter. Its revenues had dropped in the previous two consecutive quarters. 

Kering stock price has moved from being the worst CAC 40 company to one of the best. It has jumped by 135% from the lowest point this year after it reported better-than-expected numbers. 

One notable aspect is that Hermes, which was the best-performing company in the index, has lagged the others. It has crashed by 25% from its highest point this year. 

Other CAC 40 Index companies that published strong results this week were Renault, Vivendi, Sanofi, and Orange.

Top CAC Index earnings to watch

The CAC 40 Index will react to earnings by top French companies next week. The first major one will be BNB Paribas, which has come under pressure in the past few days. It has plunged from a high of €81.93 to €68, its lowest level since May 6.  

The other top French banks, like Credit Agricole and Société Générale will release their numbers on Friday. The other top names to watch will be Airbus and TotalEnergies.

On top of this, the index will react to earning by top American companies like Microsoft, Amazon, Meta Platforms, and Apple. These stocks normally have an impact on global equities.

ECB and Fed interest rate decisions

The other top catalyst for the CAC 40 Index will be the upcoming European Central Bank (ECB) interest rate decision on Thursday. 

Economists expect the bank to leave interest rates unchanged as inflation has remained near 2%. On the other hand, there are rising odds that the Federal Reserve will cut interest rates by 25 basis points in this meeting. 

The CAC 40 Index does well when key central banks are cutting interest rates as this normally reduces the yields in the bond market. 

Donald Trump and Xi Jinping meeting

The CAC 40 Index will also be on edge as investors watch the upcoming meeting between Donald Trump and Xi Jinping at the APEC Summit in South Korea.

This meeting aims to de-escalate a situation that has gotten out of hand in the past few weeks. For example, Trump has hinted that he may block software sales to China if the country blocks rare earth materials.

China, on the other hand, has hinted that it will block rare earth materials and impose some tariffs on Chinese goods. The hope is that this meeting will help to solve the ongoing trade dispute,which will boost the stock market.

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NatWest share price continued its strong bull run this week and reached its highest point since 2008. It has jumped by 62% from its lowest point this year, pushing its market cap to over $60 billion. 

NatWest share price jumped after earnings

NatWest, the parent company of companies like Coutts, Royal Bank of Scotland, and Ulster, published strong financial results as we predicted here. 

The company’s results showed that its net interest income rose to £3.268 billion in the third quarter from £3.09 billion in the same period last year. 

Its nine-month net interest rose to £9.3 billion, up from £8.3 billion in the same period last year. Most importantly, the company is growing its non-interest business. Its income jumped to £1.06 billion and £2.9 billion in the two periods, respectively. 

NatWest also published strong profit metrics. Its nine-month profit rose to £4.35 billion, while its third-quarter figure jumped to £1.68 billion. 

Other closely-watched parts of the company did well this year. Its net interest margin, cost-income ratio, and return on tangible equity all continued doing well. Paul Thwaite, the CEO said:

“NatWest Group delivered another strong performance in the third quarter of 2025, underpinned by healthy levels of customer activity and the continued support we provide to them. This is driving positive momentum across our three businesses, with continued lending growth and deposits remaining stable.”

Most importantly, the company boosted its forward guidance and now expects to have an EBITDA of £16.3 this year, up from the previous guidance of £16 billion. The closely-watched return on tangible equity (RoTE) will be over 18%.

Another important aspect is that its provisions for bad loans came in at £153 million, lower than what analysts were expecting. 

The turnaround strategy has worked

The ongoing NatWest share price gain is a sign that the company’s turnaround efforts are working. The company, which previously operated under the Royal Bank of Scotland (RBS), has made several efforts to grow its business. 

It has slashed costs by closing branches and laying off workers. Consequently, its cost-income ratio dropped to 47.8% in the first nine months from the previous 52.8%. Its quarterly figure dropped to 45.8% in the third quarter from the previous 49.1%.

The company has also worked to boost its balance sheet, with its common equity tier 1 (CET1) ratio rising to 14.2%.

Additionally, the management invested heavily on technology, with most of its transactions now happening on mobile and desktop. 

NatWest stock price technical analysis

NWG stock chart | Source: TradingView

The daily chart shows that the NatWest stock price has done well in the past few months. It jumped from a low of $349 earlier this year to a record high of $582. 

The stock then jumped after the stock formed a symmetrical triangle pattern. This triangle was part of the formation of the bullish pennant pattern, which is a common continuation sign. 

NatWest share price has remained above the 50-day and 100-day Exponential Moving Averages (EMA). Therefore, the most likely outlook is that it keeps rising, with the next point to watch being at 600p. 

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Silver price has crashed into a correction as the recent bull run hits a wall and as investors book profits. After peaking at $54.45 in October, XAG has plunged by 12.10% to the current $47.90. This article explores some of the top potential catalysts for the silver price in the near term.

Silver price to react to US consumer inflation report 

The first major catalyst for the silver price is the upcoming US consumer inflation data, which comes out later today. 

Economists expect the report to show that the headline Consumer Price Index (CPI) rose from 2.9% in August to 3.1%in September as firms adjusted their prices to deal with Donald Trump’s tariffs.

Core inflation, which excludes the volatile food and energy prices, is expected to move from 3.1% in August to 3.2%. 

Higher inflation numbers than expected will be bearish for silver as it will put the Federal Reserve between a rock and a hard place. While officials have hinted of cuts, the pace of reduction will be difficult if inflation is in a strong uptrend.

A lower inflation figure than expected, on the other hand, will point to more cuts now that the labor market is struggling. A report released by ADP showed that the economy lost 36,000 jobs in September this year.

Flash PMI numbers 

The other main catalyst for the silver price is the flash manufacturing PMI from the United States and other key countries.

A report from the European Union and the UK showed that the manufacturing activity in the regions did well in October. The EU manufacturing PMI rose from 49.8 in September to 50 in October, while in the UK, it moved from 46.2 to 49.6.

Economists expect the report from the US to show the PMI rose in the same period. It will come in at 52.1 from the previous 52. 

These numbers are important because silver has a dual role. While it is widely seen as a precious metal, silver is also an industrial metal that does well when the manufacturing sector is thriving.

US and China talks 

The other important catalyst for the silver price will come out on Thursday next week when Donald Trump and Xi Jinping meet at the sidelines of the APEC meeting in South Korea.

These talks will be aimed at solving the ongoing trade issues that have intensified in the past few weeks. China has hinted that it may reduce the amount of rare earth materials it ships to the US and other countries.

The two sides have also threatened to implement tariffs on each other. Therefore, a trade deal between the two countries will be good for silver as it will likely lead to more demand.

However, the deal may also be bearish as it will remove the safe-haven appeal that has pushed gold to the highest level on record. Silver often tracks the performance of gold as they are both precious metals.

Federal Reserve interest rate decision 

Meanwhile, the Federal Reserve will conclude its two-day meeting on Wednesday next week and deliver its interest rate decision.

Officials, including Jerome Powell, have hinted that the bank will cut interest rates by 0.25% in this meeting as they did in September.

The rate cut will largely depend on the upcoming US consumer inflation data, which will show the extent of Donald Trump’s tariffs.

Silver ETF inflows 

The other key catalyst for silver price is the activity in Wall Street. Data shows that the popular iShares Silver ETF (SLV) has had over $1.68 billion in inflows this year, bringing its total assets to over $23 billion.

Most recently, it had inflows in the last three consecutive weeks, with its inflows rising to over $191 million last week. Continued inflows will lead to more demand, which may boost its performance.

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Gold price has pulled back in the past few days, moving from the year-to-date high of $4,370 on October 17 to the current $4,072. It has dropped by 6.85% from as investors book profits. So, what next for gold ahead of key events?

Gold falls ahead of the US inflation data

Gold has dropped sharply as the recent bull run took a breather after soaring by almost 70% from its January lows. This pullback happened as investors took a breather and as some of the recent tensions faded. 

One of the main risks that has faded is on trade between the US and China. The White House confirmed that Donald Trump and Xi Jinping will meet at the APEC meeting in South Korea next week. 

A successful meeting will be a good thing for the market as it will eliminate one of the main headwinds facing the US economy. However, such a deal would be, to some extent, bearish for gold. 

The next key catalyst for the gold price will be the upcoming US inflation data. Economists polled by Reuters expect the numbers to show that the headline Consumer Price Index (CPI) rose to 3.1% in September, the highest level since June last year.

Core inflation, which excludes the volatile food and energy, is expected to move up slightly to 3.2%. Gold price will likely drop further if the inflation report is higher than expected. 

Such a move will mean that the Federal Reserve may not cut interest rates as aggressively as expected. 

Federal Reserve interest rates

The other major catalysts for gold will be next week’s Federal Reserve decision. Economists expect the bank to cut rates because of the labor market, which has continued to deteriorate in the past few months.

The last official jobs report by the Bureau of Labor Statistics (BLS) showed that the economy created just 22,000 jobs in August. Another more recent report revealed that the private sector shed 36,000 jobs in September. 

The other key catalyst for the gold price is the ongoing surge in US public debt. Data shows that the debt crossed the $38 trillion mark this week. This surging debt, together with US policies, explains why foreign central banks have continued to boost their gold reserves.

Analysts are still bullish on gold this year. Goldman Sachs analysts boosted their forecast to $4,500, while those at Bank of America and JPMorgan boosted their target to $4,800 and $4,200.

Gold price technical analysis 

The daily chart shows that gold price has pulled back in the past few days. It dropped from a high of $4,370 to the current $4,070. 

Gold has remained above all moving averages. While this is a bullish aspect, there is a risk that it may drop because of mean reversion. If this happens, it will likely drop to the 50-day moving average at $3,830 and then bounce back. In the long term, gold will bounce back and rebound to $4,500.

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A crypto crash is happening today, with Bitcoin falling to $108,000 and top altcoins like Solana, Cardano, Pepe, and Shiba Inu being deeply in the red. This article explores some of the top reasons contributing to the ongoing crypto market crash and what to expect.

Crypto crash happened amid inflation concerns 

One reason for the ongoing crypto crash is the upcoming US Consumer Price Index (CPI) data, which will come out on Friday this week. 

These numbers are expected to show that the US inflation remained high in September as companies continued to account for Donald Trump’s tariffs.

The headline Consumer Price Index (CPI) figure is expected to come in at 3.1%, up from the previous 2.9%. If accurate, this figure will confirm that the country’s inflation remains a challenge.

Worse, there are signs that inflation will continue rising as the crude oil price jumped after signs of a truce between the US and India emerged. One part of the deal is that India will largely stop buying Russian oil in exchange for tariff relief from the US. India will also commit to buying more US oil this year.

Brent, the global benchmark, rose by 3% and hit the important resistance level at $64, while West Texas Intermediate (WTI) jumped to $62 after the US blacklisted Rosneft and Lukoil, two of the biggest oil companies in the country. Trump also plans to talk to Xi Jinping about China’s crude oil imports.

A high inflation figure will make it harder for the Federal Reserve to cut interest rates in the coming meetings. Cryptocurrencies normally do well when the Fed is cutting rates.

Liquidations tantrum 

The other main reason why the crypto market crash is happening is that traders are going through a liquidation tantrum. This is a response to the huge $20 billion liquidation that happened on October 11 this year. 

The liquidation affected more than 1.6 million people who saw their accounts wiped out. Historically, crypto prices normally remain on edge after such a big liquidation event, as investors remain in the sidelines.

A good example of this is the fact that the volume in the futures and spot market has tumbled. CoinGlass data shows that the 24-hour volume plunged by 17.6% to $315 billion, while the open interest fell to $147 billion. 

The liquidation tantrum will likely remain in place until Bitcoin and other cryptocurrencies rebound and attract Fear of Missing Out (FOMO).

Bitcoin whale activity

The crypto market is also going down is of an obscure Bitcoin whale who has made millions shorting Bitcoin. This whale made over $200 million in his recent Bitcoin short trade. 

He has now opened a new short trade worth over $234 million through Hyperliquid. His trades are being scrutinized because the last one was opened 30 minutes before Donald Trump made his tariff announcement. As such, there are rumors that this whale is associated with Donald Trump.

BTC price has formed a risky pattern

The crypto crash is also happening because, as the chart above shows, the Bitcoin price has formed the risky double-top pattern at $124,373 and is now at the neckline. 

It is also about to form a death cross pattern, which happens when the 50-day and 200-day Weighted Moving Averages (WMA) cross each other. These patterns point to more Bitcoin price crash, pointing to more downside in the near term. 

A Bitcoin price crash will be highly bearish for the broader crypto market. It is also coming as Bitcoin ETF outflows rise. 

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Renault share price has remained in a tight range in the past few months. This could change as investors buy the dip after the recent financial results, which showed that its business was doing well. It was trading at €35.25, up by 14.4% from its lowest point this year.

Renault earnings review

Renault, one of the biggest automakers in France, is doing well in a highly difficult environment. Results released today, Oct. 23, showed that its third-quarter revenue rose by 6.8% in the third quarter. 

Renault made over €11.4 billion in the quarter as brands like Dacia Bigster continued doing well. Its revenue also jumped because of its financial service, which rose by 18% to €1.6 billion. Analysts polled by Reuters expect the revenue to move to €11.5 billion. 

In the statement, the company said that its European passenger car sales rose by 10.9%. It strong sales were spread across the board, with Renault rising by 5.5% and Dacia and Alpine rising by 16.1% and 306%.

READ MORE: Renault CEO Luca de Meo’s exit clouds growth plans, sparks investor uncertainty

Renault has sold over 1.16 million vehicles in the first nine months of the year, a 3.8% increase from the same period last year. It sold 361,575 vehicles in the third quarter. In a statement, Duncan Minto, the CFO said:

“We confirm our full-year guidance, targeting a Group operating margin around 6.5% and free cash flow between €1.0bn and €1.5bn. Also, we are actively shaping our next mid-term plan, designed to accelerate the Group’s transformation and unlock future opportunities.” 

Renault now expects that it operating margin will be about 6.5%, while its free cash flow will be between 1 billion and 1.5 billion euros, respectively

Major challenges remain

Renault is still going through major challenges as signs show that demand for vehicles in Europe is slowing. At the same time, while it is not exposed directly to the US, the ongoing trade war with China could have an impact on its operation. 

One way that this will happen is in China’s strategy to limit the supply of rare earth materials. Limits to these exports would impact its operations as China has a major market share in the industry.

The other major challenge is that cheaper Chinese vehicles by companies like Xpeng, BYD, and Li Auto are starting to flood the market. This growth may hurt Renault and other European companies like Volkswagen and BMW. 

The other major challenge is that Renault is not a cheap company as it trades at a forward multiple of 19.49. This is a higher multiple than other companies like Volkswagen and BMW.

Renault share price technical analysis

Renault stock price chart | Source: TradingView

The daily chart shows that the Renault stock price formed a double-top pattern at €49.5 and a neckline at €38.50, its lowest swing in April. It then plunged on July 15 after the company published its financial results and issued a profit warning. 

The stock then formed an island reversal pattern, which is a popular reversal sign. Therefore, the stock will likely continue rising as bulls target the key resistance point at €38.50, its lowest level in April and June. This target is about 10% above the current level. A drop below the support at €32.5 will invalidate the bullish view.

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Bitcoin price remained under pressure this week as investors remained in the sidelines as global risks rose. BTC dropped to $108,600, down by 14% from its highest point this year. This article explores some of the top reasons why the BTC price may drop further in the near term.

Bitcoin price is about to form a death cross

The daily timeframe chart shows that the coin has been in a strong bearish downtrend in the past few months. It has plunged from the year-to-date high of $126,300 to the current $108,600. 

A closer look shows that it is about to form a death cross pattern as the spread between the 50-day and 200-day Weighted Moving Averages (EMA) has continued to narrow in the past few days. This is a sign that the coin is about to form a death cross, which often leads to more downside. 

Bitcoin price has also formed a double-top pattern at $124,375 and a neckline at $108,357, its lowest level in June. This double-top pattern’s depth is about 12.2%. Measuring the same distance from the neckline goves it a target of $95,000, which coincides with the extreme oversold level of the Murrey Math Lines tool. 

Bitcoin price is also in the process of forming a bearish pennant pattern, which is made up of a vertical line and a symmetrical triangle pattern. 

BTC price has formed a rising wedge and divergence

The other main reason why the Bitcoin price may crash further is that numerous bearish patterns have formed on the weekly chart. 

Bitcoin has formed a rising wedge pattern, which happens when there are two rising and converging trendlines. The two lines are about to converge, which may lead to a strong bearish breakout. 

At the same time, top oscillators show that the coin has more downside as it has formed a bearish divergence pattern. The True Strength Index (TSI) has continued moving downwards as Bitcoin has jumped. 

Other oscillators have also continued forming a bearish divergence pattern. This includes popular indicators like the Percentage Price Oscillator (PPO) and the Relative Strength Index (RSI).

These patterns point to more downside in the near term. The price target is established by first measuring the distance of the widest part and then the same one from the breakout point. This distance is about 48%, meaning that the coin may crash below $60,000 in the coming months. 

Crypto Fear and Greed Index is falling

The other key catalyst for the Bitcoin price crash is that there is a sense of fear happening in the crypto industry. Data shows that the Crypto Fear and Greed Index has tumbled to the fear zone of 28. It has been in a major downtrend after peaking at the greed zone of 63 in May this year. 

The CNN Money Fear and Greed Index has moved to the fear zone of 26. Further downside will have it move to the extreme fear zone of 25. 

Most of the gauges, including the stock price breadth, put and call options, safe haven demand, and junk bond demand have all moved to the extreme fear zone.

This fear explains why investors have been reluctant to invest in Bitcoin ETFs. These funds had a net outflow of $1.28 billion last week. While they have gained $335 million so far this week, they have remained lower than their historical standards.

Bitcoin price may also continue falling as US inflation remains at an elevated level. Higher inflation may prevent the Fed from cutting rates aggressively. 

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Lloyds share price held steady today, Oct. 23, as the market reacted to the latest earnings, which showed that the company continued doing well this year. LLOY was trading at 84.6p, up by about 70% above the lowest level this year. 

Lloyds Bank posted strong earnings

Lloyds, one of the biggest banks in the UK, published strong financial results even as the economy remains in stagflation. Its results showed that the statutory profit dropped to £3.3 billion in the third quarter from £3.8 billion in the same period last year. 

The profit dropped because the company took a £800 million charge relating to the motor insurance compensation, which come after the Supreme Court ruling a few months ago. The total provision now stands at over £1.950 billion.

READ MORE: Here’s why the Barclays share price jumped after Q3 earnings

Lloyds Bank’s underlying net interest income rose by 6% to £10.1 billion in the first nine months of the year, giving it a net interest margin of 3.04%.

The company also boosted its forward guidance, estimating that the underlying net interest income will be £13.6 billion, while the Return on Tangible Equity (RoTE) will be 12%.

These results came a few days after the management announced the full buyout of Schroders Personal Wealth, which was previously operated as a joint venture. The full acquisition brought in about £17 billion in assets under management (AUM) and 60,000 clients. It will now be rebranded as Lloyds Wealth.

Lloyds Bank’s growth happened as the company’s lending and deposits remained steady. Its lending jumped to £477 billion in the last quarter, while its deposits rose to £496 billion. In a statement, Charlie Nunn, the CEO said:

“Our strategic progress combined with this financial performance gives us confidence in our performance for the year and our 2026 guidance.”

Lloyds Bank believes the UK economy will grow by just 1% in the coming year and that the unemployment rate will continue rising gradually. 

The company may start to feel the impact of the Bank of England’s interest rate cuts. However, the company has a £244 billion structural hedge in place, which is helping it boost its margins. A Bloomberg analyst said:

“With a 13.8% CET1 ratio and reiterated plans to run it down to 13% next year, this year’s buyback could surpass the £1.8 billion already embedded in 2025 expectations.”

The other main risk is that the UK is bracing for a challenging annual budget on November 26 as Chancellor Rachel Reeves struggles to fill a multi-billion-pound hole. One of the proposals to bridge this gap is to launch a windfall tax on the financial services industry that has boomed in the past few months.

READ MORE: NatWest share price forecast ahead of Q3 earnings: buy or sell?

Lloyds share price technical analysis 

The daily timeframe chart shows that the Lloyds Bank share price has been in a strong uptrend in the past few months and is now hovering near its highest level this year.

The stock remains above the 50-day and 100-day Exponential Moving Averages (EMA). It also remains above the lower side of the ascending channel  

Top oscillators like the Relative Strength Index and the MACD have continued rising in the past few months. Therefore, the stock will likely continue rising as bulls target the next key resistance level at 90p.

READ MORE: Unicredit share price analysis as earnings growth continues

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