Suarez has struggled for regular playing time at Barcelona this season and is expected to move in the ongoing transfer window.
"We can not sign (players) permanently", he said.
"I don't know his [Suarez's] situation". "We can only sign players later on".
"I am very happy, I know it is not easy for us now in this transfer market and if we can find one player who can help us like we need, with the quality and a different player for getting in our squad, we are going to do it".
The Gunners have won their last two games in all competitions, and will look to make it three wins in as many games when they travel to the London Stadium to take on West Ham on Saturday.
Arsenal are the clear favourites to sign Suarez on loan, with multiple outlets suggesting a potential permanent deal could be agreed in the summer when the north London side can afford the purchase.
Emery also offered an update on Aaron Ramsey following suggestions the midfielder is set to join Juventus in the summer after reportedly singing a £140,000 a week, five-year contract with the Italian champions.
Emery also praised the attitude of Aaron Ramsey as the Wales worldwide continues to be linked with a move away from the Emirates Stadium.
Asked specifically about a move for Suarez, Emery said: "I don't know his situation now".
"I respect his decision a lot". "In the last match [against Blackpool in the FA Cup] I was very happy with him". Every day he's here with us, he's working very well.