Eurozone Inflation Doubles ECB Target

Eurozone inflation rising to twice the ECB's target could dampen global risk appetite and have a mildly negative effect on technology stocks. GOOGL's technical picture is already weak: the price is below the SMA20 and SMA50, MACD is in negative territory, and an RSI of 36 points to seller pressure. However, the RSI's approach to oversold territory may limit short-term rebound buying. Since the news is not specific to GOOGL, the impact may remain limited and indirect. Therefore, although the direction is biased lower, confidence should be kept low.

Inflation rising to twice the ECB's target will put negative pressure on the euro area. In the short term, EURUSD may show a downward tendency from the 1.1253 level. Since the RSI is at 66.6, it is not in overbought territory, but macroeconomic data could pull the price down. Although the MACD and SMA indicators currently support the upward trend, the news effect may create short-term pressure.

In the Eurozone, inflation rising to twice the ECB's target reinforces expectations that the ECB will implement more aggressive interest rate hikes. This could reduce global risk appetite and create selling pressure in equity markets. In Turkey, depreciation pressure on the Turkish lira may increase, and short-term volatility may be seen in BIST. Overall, market sentiment may be negatively affected.