Aussie Rises As Australia Unemployment Rate Slips

The Australian dollar strengthened against the other major currencies in the Asian session on Thursday, after data showed that the nation's unemployment figures 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 Australia economy added 37,700 jobs in March - also beating expectations for adding 15,000 following the gain of 15,600 jobs in the previous month.

The Australian dollar rose to a 1-month high of 1.3778 against the euro, from yesterday's closing value of 1.3903.

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.

The aussie advanced to a 6-day high of 92.46, from yesterday's closing value of 91.45.

Against the Canadian dollar, the aussie edged up to 0.9542 from yesterday's closing value of 0.9434.

If the aussie extends its uptrend, it is likely to find resistance around 1.36 against the euro, 0.79 against the greenback, 1.04 against the kiwi, 94.80 against the yen and 0.95 against the loonie.