The Australian dollar strengthened against other major currencies in the Asian session on Thursday.

Unemployment and economic confidence survey results from the euro area and quarterly national accounts from Switzerland are due on Thursday, headlining a busy day for the European economic news. At 3.00 am ET, Switzerland's State Secretariat for Economic Affairs releases Swiss GDP data. The economy is forecast to grow 0.3 percent sequentially in the first quarter.

European stocks may open on a tepid note Thursday amid signs that global interest rates are likely to stay higher for longer.

Indian shares opened lower on Thursday due to weak global cues and on eve of monthly F&O expiry.

Asian stock markets are trading mostly lower on Thursday, following the broadly negative cues from global markets overnight, as bond yields continued to spike amid uncertainty about the US Fed's interest-rate moves ahead of key inflation data later in the week. Asian Markets closed mostly lower on Wednesday.

The FTSE 100 tumbled Tuesday as bids for two major companies neared a deadline. Foreign investors are snapping up discounted stocks.

Wednesday saw the dollar rise as the Fed might delay rate cuts. The Aussie dollar stayed flat after strong inflation data.

Tuesday saw the dollar weaken slightly amid a rising risk appetite, holding steady in Asia with minimal currency movement.

The AUD/USD pair rose to 0.6650 on Wednesday following the release of Australian economic data. Australia’s consumer price index (CPI) accelerated to 3.6% year-on-year in April, up from 3.5% in March.

Expert market comment made by senior analyst Alex Kuptsikevich of the FxPro Analyst Team: Accelerating German inflation supports the euro on the downturn