US NFP Data to Influence Silver Price as Fed Cautiously Eyes Inflation

Investors are closely watching the upcoming US Non-Farm Payroll (NFP) data, which is expected to show a partial recovery in August. TD Securities forecasts a rebound of 95k jobs after July's decline of 23k.

The firm also predicts that the unemployment rate will remain steady at 4.1% with balanced risks. A strong employment report could reinforce the Federal Reserve's focus on inflation, but it's unlikely to trigger an interest rate hike.

Fed Governor Christopher Waller's recent comments have tempered expectations of a rate increase. He noted that recent data indicates signs of disinflation. Commerzbank analysts agree, saying Waller's statements underscored the uncertainty surrounding the US rate outlook.