Liverpool sit in sixth place, two points off fourth and three points ahead of the Toon.
Asked how important the clash will be in the top four battle, Slot said: "Every game is crucial but the way we have positioned ourselves now makes every game crucial because top four is what we want to achieve.
"They are all crucial games and we have experienced how tough it is against Newcastle, always tough games for us but for them as well. One to look forward to because we both had a good result in the week and a home game at Anfield is always something to look forward to."
Liverpool go into the game on the back of a 6-0 Champions League rout of Qarabag. While pleased, Slot warned more is needed after their stumbles in the Premier League.
"I prefer to win it than losing it, so that helps us. Every time it helps. We qualified for last 16 and it was a good win with performances and goals, always helpful. But one win is not enough at this club.
"I think that is the bigger challenge that the one we faced Wednesday but always helpful to win, nice to have a better feeling in the week."
Slot also said: "We already thought every single period was pivotal, that hasn't changed but the closer you come to the end, the less opportunities you have to make a mistake and now we cannot afford a lot of mistakes anymore and we have made too many.
"Too many last-minute goals conceded, so yes, it is clear that the closer you come at the end then there is no room for mistakes anymore."
Late market plans?
Jeremie Frimpong broke down in the Qarabag win, which led to Slot stating immediately afterwards that Liverpool may raid the loan market for cover.
Asked to expand on those comments, he would only say this morning: "Yeah, you know the answer. It is that if we think we have a player who can help us and think it is possible, we will do so.
"They are conversations that don't take place in this room. I gave the answer I gave. If that means it's likely or unlikely...OK, it could be a quiet day Monday. You want to play golf?"
On Frimpong, Slot added: "Definitely not in tomorrow, out for a few weeks but not as bad as we thought. So something positive from something not so positive.
"(Ibrahima) Konate trains today, in the squad tomorrow."
Along with Konate, Slot says Curtis Jones will also make the squad.
"Curtis is again available; he was sick, as I said. He is available. Joe (Gomez) will not be available but that doesn't have to take much longer anymore. But he will not be available for the weekend."
Asked about Harvey Elliott's situation at Aston Villa, Slot remained coy. While he appeared last night in the Europa League win against RB Salzburg, Elliott remains outside of manager Unai Emery plans.
Slot said of the Liverpool loanee: "It was pleasing to see him on the pitch yesterday. He won the Euros with U21s of England but the situation is clear. He is a Villa player at this moment, which is all I can say."
Working with Salah
The win against Qarabag also marked a first goal for Mohamed Salah since November. After the Egyptian great's return from AFCON, Slot says he's happy with the striker's commitment after their pre-Christmas blow-up.
He stated this morning: "I think it is always about the team and we have to get him in good positions, we are doing that more and more with him and other players. Our game between boxes is good enough for attackers to be in promising positions and if that happens enough our players will do what is expected of them.
"Against Bournemouth, (Florian) Wirtz was in position against Bournemouth as he was for his goal against Qarabag but he chose a pass...I was pleased and happy for Mo with his goal and it was good for him and Federico and Florian to be on the scoresheet too.
"No natural right-back for Mo to play with? Depends (if it's a problem), what happens for wingers is overlapping runs and you can isolate wingers a bit more if that doesn't happen, can double up and that is always more difficult but I saw (Wataru) Endo making some inside runs and overlapping runs.
"Different to Frimpong, yes, Wata doesn't have that quality to take them on like Jeremie but he us a smart player and he is a midfielder, so every player brings something else to the team. I have to make sure Mo is in promising positions enough."
Different demands
Slot, reflecting on Liverpool's issues in the Premier League, again highlighted their problems defending set-pieces domestically compared to what they've experienced in Europe this season.
He said, "Now it is mainly the same players, the game during the week has impacted parts of our games at the weekend but there is more physicality in the Premier League than the Champions League.
"I did not see one long throw from Marseille or Qarabag, set-pieces are a different level, so that part of the game is more developed in England than in the Champions League, but in the Champions League we have also faced teams that are very good between the boxes.
"Premier League has become more of a box game, get it in the box. In the Champions League it is about the play between the boxes."
Slot also discussed the progress of Rio Nguhoma, who again featured in the Qarabag win. The Dutchman admits such has been the winger's development that Nguhoma is now regarded as a game-breaker by Reds management.
He explained: "Rio is different, he comes in when we need a goal or moments when the game isn't decided. Trey (Nyoni) comes closer and closer to a situation I can bring him in and he has developed nicely, closer to playing in moments that matter more.
"He makes step by step until the manager trusts you enough, Rio already has that."