The Australian dollar strengthened against the other major currencies in the Asian session on Thursday after data showed that the nation's unemployment rate dropped in March.

Data from the Australian Bureau of Statistics showed that the unemployment rate in Australia was a seasonally adjusted 6.1 percent in March. That beat forecasts for 6.3 percent, which would have been unchanged from the February reading.

The Australian economy added 37,700 jobs in March - also beating expectations for an addition of 15,000 jobs, following the gain of 15,600 jobs in the previous month.

Traders also see a reduced chance of rate cut at the Reserve Bank of Australia's May meeting.

In other economic news, data from the statistical agency showed that the total number of new motor vehicle sales in Australia was up a seasonally adjusted 0.5 percent on month in March, standing at 96,158. That follows the 2.9 percent increase in February.

Meanwhile, the Australian stock markets traded higher, tracking the positive lead from Wall Street overnight and higher commodity prices. The Australian benchmark S&P/ASX 200 index was rising 38.10 points or 0.64 percent at 5,946. The broader All Ordinaries index was also up 38.50 points or 0.66 percent at 5,915.

Wednesday, the Australian dollar showed mixed trading against the other major currencies. While, the Australian dollar rose against the U.S. dollar and the yen, it held steady against the euro. Against the New Zealand and the Canadian dollars, the aussie fell. In the Asian trading today, the Australian dollar rose to a 1-month high of 1.3778 against the euro, from yesterday's closing value of 1.3903. The aussie may test resistance near the 1.36 area.

Against the U.S. and the New Zealand dollars, the aussie climbed to nearly a 3-week high of 0.7781 and a 2-week high of 1.0221 from yesterday's closing quotes of 0.7674 and 1.0101, respectively. If the aussie extends its uptrend, it is likely to find resistance around 0.79 against the greenback and 1.04 against the kiwi.

The aussie advanced to a 6-day high of 92.46 against the yen, from yesterday's closing value of 91.45. On the upside, 94.80 is seen as the next resistance level for the aussie.

Against the Canadian dollar, the aussie edged up to 0.9542 from yesterday's closing value of 0.9434. The aussie is likely to find resistance around the 0.95 area.

Looking ahead, Swiss producer and import prices for March is due to be released at 3:15 am ET.

In the New York session, U.S. building permits and housing starts - both for March, U.S. weekly jobless claims for the week ended April 11 and Reserve Bank of Philadephia's manufacturing index for April are slated for release.

At 1:00 am ET, Federal Reserve Bank of Atlanta President Dennis Lockhart will deliver a speech about the US economic outlook and monetary policy at the Palm Beach County Convention Center.

After 10 minutes, Federal Reserve Bank of Cleveland President Loretta Mester will speak on the economy before the Forecasters Club of New York. Subsequently, Federal Reserve Bank of Boston President Eric Rosengren participates in "The U.S. Economic Outlook and Implications for Monetary Policy" event hosted by Chatham House in London at 1:30 pm ET.

At 3:00 pm ET, Federal Reserve Governor Stanley Fischer will participate in a panel discussion titled "The Elusive Pursuit of Inflation" at the International Monetary Fund Spring Meetings in Washington DC at 3:00 pm ET.

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