The Gunners head into this weekend's Emirates Cup - which kicks off against Napoli later on Saturday afternoon - without a marquee summer signing, despite chief executive Ivan Gazidis having talked up the club's new "financial firepower" at the end of last season.
Argentinian international Gonzalo Higuain had been high on Wenger's wanted list, but as the Gunners failed to push through a £30million deal, the forward opted to join Rafael Benitez at Napoli instead.
The pursuit of wantaway striker Suarez looked to have stalled following a second improved bid of £40million plus £1, which had been intended to trigger a clause that would allow them to discuss terms with the Uruguayan.
On Thursday, Liverpool managing director Ian Ayre insisted the Anfield club had no intentions of selling their key man, who joined up with Brendan Rodgers' squad on the tour of Australia.
Wenger, though, on Friday indicated Arsenal remained hopeful of eventually negotiating an "amicable" deal before the end of the summer transfer window.
"We are working very hard to strengthen our squad, not only on the case you name (Suarez), but on other different cases," he said. "I always try to make the decision I feel is right for the club. That doesn't mean I always manage to do it, but I work with that conscience.
"If you say we are under pressure to spend money then yes we are, but I feel more under pressure to spend the money in the right way. That is what I will try to do."
Wenger refused to be drawn on any details of the Suarez negotiations, but there was no suggestion Arsenal were about to drop their pursuit.
"I don't want to speak about Suarez, because that is between Liverpool and Arsenal. We will completely respect what Liverpool wants to do. We want to (sign the player) if it is feasible in an amicable way," Wenger said.
Source: PA
Source: PA