The Gunners are chasing Ivan Perisic having also been after Denis Suarez and Christopher Nkunku – but can only make loan signings this month.
Emery said: “We are in one moment, but I know because the club is telling me that this moment is not good to buy players.
“Because it is not a good moment. But the club say to me in the summer it is going to be different. And we are going to have chances to spend money to buy players.”