By CNBC-TV18's research analyst, Varinder Bansal

The next week will be very important for US markets as well as for Indian markets. Data on various issues will be announced in the next week.

On Monday, March 17, US current account data will be announced, which impacts foreign exchange value of the dollar. US Industrial Production numbers are also going to be declared (industrial sector accounts for less than 1/5th of the economy).

On the next day that is on Tuesday, March 18, there will be announcement from FOMC. On the earnings front, Goldman Sachs and Lehman Brothers will announce their results. Housing data (which measures initial construction of residential units each month) and Producer Price Index data (measures prices at the producer level before they are passed along to consumers) will be declared.

The impact of these data announced on Tuesday in US markets will be seen on Wednesday for Indian markets.

On Thursday, March 20, US Jobless claims data will be announced. Bear Stearns is going to announce its Q1 results.

Other data on Thursday

• Quadruple Witching: contracts for stock index futures, stock index options, stock options and single stock futures (SSF) all expire.
• Quadruple Witching days occur on the third Friday of March, June, September and December
• Leading Indicators Data (composite index of ten economic indicators that should lead overall economic activity)

The cues from these above announced data on Thursday in US markets will be seen on the Indian markets on Monday.

On Friday, March 21, all markets will be closed due to Good Friday but banks will remain opened.