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What is it? It's a leading indicator of economic health - businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy.

When? At 10:00am Eastern Time.

Trading Tip: If the actual number is higher than the forecast, you can expect the USD to rise.

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1. The dollar turned lower against the other major currencies on Friday, after data showed that the U.S. created far less jobs than expected last month, dampening optimism over the strength of the economy.

The dollar erased gains against the yen, with USD/JPY down 0.39% at 119.42, off highs of 120.41 hit earlier in the day.

2. U.S. oil futures climbed higher on Friday, amid growing concerns over escalating violence in Syria and as markets eyed the release of U.S. data later in the day.

U.S. crude futures for November delivery were last at $45.22 a barrel, up 1.07% for the day. On the ICE Futures Exchange in London, the November Brent contract were up 0.28% at $47.83 a barrel.

3. Wall Street opened sharply lower on Friday after data showed a less-than-expected rise in nonfarm payrolls in September, raising doubts that the economy is strong enough to allow the Federal Reserve to raise interest rates this year. The three major indexes were down more than 1.5 percent.

4. U.S. factory orders fell more-than-expected last month, official data showed on Friday.

In a report, US Census Bureau said that U.S. Factory Orders fell to a seasonally adjusted -1.7%, from 0.2% in the preceding month whose figure was revised down from 0.4%. Analysts had expected U.S. Factory Orders to fall to -1.2% last month.

5. Experian Plc (L:EXPN), the world's biggest consumer credit monitoring firm, on Thursday disclosed a massive data breach that exposed sensitive personal data of some 15 million people who applied for service with T-Mobile US Inc (N:TMUS).

Experian said it discovered the theft of the T-Mobile customer data from one of its servers on Sept. 15. The computer stored information about some 15 million people who had applied for service with telecoms carrier T-Mobile during the prior two years, Experian said.

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The US economy added 142,000 jobs in September, less than forecast.

Economists had been expecting the economy to add 200,000 jobs. The unemployment rate held steady at 5.1%, a seven-year low.

Average hourly earnings were flat month-over-month in September, below expectations for 0.2% growth.

Ahead of this report, economists had noted that August and September nonfarm payrolls prints have been revised higher most of the time over the last decade. However, the August print was revised to 136,000 from 173,000 in Friday's report.

Economists had noted that the broad-based slowdown in the manufacturing sector, and in employment, would likely show up in this report. Manufacturing employment fell 9,000 in September, versus expectations for no change.

Mining employment also fell, as health care and information added more jobs, according to the Labor Department.

The labor force participation rate, which measures the share of Americans over 16 looking for work, fell to 62.4%, the lowest since 1977.

The year-over-year projection for hourly earnings growth, at +2.4%, was the most bullish forecast for wages in this economic cycle. Wages missed, at 2.2%.

Here's what Wall Street was expecting:

Nonfarm payrolls:+200,000

Unemployment rate: 5.1%

Average hourly earnings, month-over-month: +0.2%

Average hourly earnings, year-over-year: +2.4%

Average weekly hours worked: 34.6

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The U.S. jobs report will be the talk of the market today.

Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:

1. The big jobs report

The U.S. government will post September jobs data at 8:30 a.m. ET, including the unemployment rate, payroll figures and earnings.

Economists forecast that the economy added 204,000 jobs in the month.

In August, the unemployement rate dropped to 5.1%. Economists predict the rate will remain level in September.

Aside from those numbers, it's important to look at wage growth. Economists expect wages increased by 2.3%, on average, over the last year. A 2.2% boost was reported last month, but this lagged behind the Federal Reserve's target.

The Fed is widely expected to raise interest rates later this year, but Fed members have been delaying a hike as they wait for the job market to show some real strength.

2. Stock market overview

U.S. stock futures are holding steady ahead of the jobs report.

Most European markets are strengthening in early trading, while Asian markets ended with mixed results

This follows a rather uninspiring Thursday when markets did a whole lotta nothing. The Dow Jones industrial average inched down 0.1%, while the S&P 500 and the Nasdaq each notched a 0.2% gain.

3. Potential market movers

Micron, Wynn, T-Mobile, Experian: Shares in Micron Technology (MU) are rallying by about 7% premarket after the semiconductor firm reported earnings late Thursday that topped expectations. This was encouraging for investors who have seen the shares plummet by nearly 60% this year.

Shares in Wynn Resorts (WYNN) have suffered a similar fate in 2015 on concerns about its business in Macau. The stock is rebounding by 12% premarket.

And watch trading in T-Mobile (TMUS) and Experian (EXPGY). Experian suffered a major data breach where hackers have made off with personal information of 15 million people who applied to sign up for T-Mobile's service. T-Mobile used Experian, one of the three major credit bureaus, to conduct credit checks on its customers.

4. European Markets

European stocks opened sharply higher on Friday, supported by upbeat comments by European Central Bank President Mario Draghi and as investors eyed the release of U.S. jobs data later in the day.

During European morning trade, the EURO STOXX 50 rallied 1.19%, France’s CAC 40 advanced 1.32%, while Germany’s DAX 30 jumped 1.07%.

European equities strengthened after ECB President Mario Draghi said in a speech Thursday that growth in the euro zone is picking up thanks to the central bank’s accommodative monetary policy.

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What is it? Although it's generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions. Unemployment is also a major consideration for those steering the country's monetary policy.

When? At 8:30am Eastern Time.

Trading Tip: If the actual number is lower than the forecast, you can expect the USD to rise.

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What is it? Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity.

When? At 8:30am Eastern Time.

Trading Tip: If the actual number is higher than the forecast, you can expect the USD to rise.

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What is it? It's a leading indicator of consumer inflation - when businesses pay more for labor the higher costs are usually passed on to the consumer.

When? At 8:30am Eastern Time.

Trading Tip: If the actual number is higher than the forecast, you can expect the USD to rise.

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