The Reds and Gary O'Neil's side will kick off the weekend's Premier League action following the international break, as Wolves welcome their Merseyside counterparts to Molineux for the lunchtime kickoff.
Jurgen Klopp's side went into the international break with the wind in their sails, having taken 10 points from their opening four games against Chelsea, Bournemouth, Newcastle United and Aston Villa to sit third in the rankings.
Only Manchester City have obtained more points than Liverpool so far this term, while Tottenham Hotspur sit above the Reds on goal difference, but Klopp entered the two-week hiatus with numerous concerns bedevilling him.
Liverpool opened up a portion of their training session on Thursday morning to the media, but neither Alexander-Arnold nor Nunez were involved, sparking fears about their availability for the weekend.
Alexander-Arnold was brought off in the 71st minute of Liverpool's win over Aston Villa two weekends ago with a hamstring problem, although he told Klopp that he did not believe the issue was too serious.
Nevertheless, the right-back was forced to withdraw from the England squad for their fixtures with Ukraine and Scotland, and Klopp will be expected to give an update on his condition when he addresses the media later this week.
In addition, Uruguay striker Nunez - who had just started to hit a rich vein of form - suffered a muscular injury during the international break, as confirmed by Uruguay head coach Marcelo Bielsa.
The 24-year-old had registered an assist for Nicolas de la Cruz in a 3-1 World Cup qualifying win over Chile, but he was taken off at half time when Uruguay lost 2-1 to Ecuador three days later.
Nunez made his first Premier League start of the season against Villa after his heroic cameo off the bench against Newcastle United, and while he failed to score on the day, he set up Mohamed Salah and saw an effort crash against the post before deflecting into the net off Matty Cash.
Amid doubts over Nunez's fitness, Cody Gakpo and Diogo Jota are both on standby, while Thiago Alcantara was also nowhere to be seen in the practice session owing to his hip injury.
The 32-year-old has not played for Liverpool since April and recently suffered a setback in his recovery, although he is not expected to spend too much longer on the sidelines.
In addition to the injured trio, Liverpool will also be without Virgil van Dijk after his improper conduct ban was extended, but on a brighter note, Ibrahima Konate was able to train with his teammates on Thursday morning.
The centre-back missed Liverpool's wins over Villa and Newcastle with a thigh injury, which also forced him to withdraw from the France squad, and he seemingly has a good chance of making a comeback at Molineux.
Should Konate be given the green light to play, the former RB Leipzig man could form a central partnership with Joel Matip, allowing Joe Gomez to cover at right-back if Alexander-Arnold misses out.
Alternatively, 20-year-old academy product Jarell Quansah could make his first Premier League start if Konate is not risked, while Wataru Endo is also capable of playing in the heart of defence.