WTIUSD

Crude oil prices will try to find direction amidst conflicting signals from the NFP data. The interpretation of the data involves a more complex equation for oil compared to other assets. A weak NFP report, as the markets expect, could increase concerns that the slowdown in the U.S. economy will reduce oil demand, putting pressure on prices. However, in the same scenario, a sharp decline in the Dollar could make oil cheaper for buyers using other currencies, providing some support. Generally, in such situations, concerns about demand tend to weigh more heavily, so the potential for the weak data to draw prices towards the support levels of $79.20 and then $78.00 is higher. Unexpectedly strong data, on the other hand, could push oil towards the resistance of $81.50, despite the Dollar gaining value, due to the perception that the economy is vibrant and demand remains strong.