The Gunners boss expressed concern about the club's chances of finishing in the Premier League's top four after their 22-game unbeaten run ended at struggling Southampton.
The Spaniard remains relatively happy with the progress of his team this term and thinks it will be difficult to recruit top-level players during next month's window.
Asked if he will have money available before the January 31 deadline, Emery replied: "It is not easy. But I don't believe I would in this transfer window because it's not a very big possibility with the players.
"The club is working only if some player can help us with a high level or better than within for us. It is not a good situation for transfers in January but we are going to look and the club is working. But also we are in a (good) way.
"Our progress is also with young players and we are giving them chances, and when we need to give them more chances to play and show us (their) progress we are going to do."