Core Viewpoint - The article discusses the current state of the silver market and the broader economic context, highlighting the impact of disappointing macroeconomic data on the US dollar and the potential for silver prices to rise or fall based on upcoming economic reports and technical levels. Economic Context - The US dollar is under pressure following disappointing macroeconomic data, with silver prices stabilizing around $34.50 as traders are hesitant to push prices outside this range [1] - The European Central Bank (ECB) is expected to announce a 25 basis point rate cut, while the market is closely watching for any pause in the ECB's year-long easing cycle [3] - Recent US economic data indicates a contraction in service sector activity for May, marking the first decline in nearly a year, raising concerns about economic growth and inflation [3] Silver Market Analysis - Current spot silver price is $34.76 per ounce, with various other silver trading metrics provided [2] - Silver is showing a bullish trend technically, having risen over 5% recently, and is poised to challenge the $35.00 level, which could lead to a test of the 13-year high of $37.49 [4] - If silver closes below the peak of $34.58 from March 28, it may decline to $34.00, with further support at $33.69 [5] Employment Data Expectations - Investors are awaiting the US May non-farm payroll report, with expectations of 130,000 new jobs, a decrease from April's 177,000, and an unemployment rate steady at 4.2% [4] - A poor performance in the upcoming employment data could exert additional downward pressure on the US dollar [4]