Cahill wants to leave Chelsea this month after falling out of favour with manager Maurizio Sarri.
Chelsea are willing to let Cahill go but could prevent him from joining a direct rival.
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Emery was asked about Arsenal’s plans in this month’s transfer window and if there was any interest in Cahill following their 4-1 win over Fulham.
And the Arsenal boss said: “We didn’t speak about him.
But Emery did confirm that the club was in talks about potential signings.
He added: “It depends if the transfer market can help you – only if there are players who can help us in different positions.
“The club is looking to see.”
Aaron Ramsey is set for talks with the likes of Real Madrid and Juventus about joining them on a free transfer in the summer.
When asked if Ramsey will still be at Arsenal after January, Emery replied: I would expect so yes.”
Emery then hailed his players for bouncing back from their 5-1 defeat to Liverpool on Saturday.
He said: “We wanted to win and this result will give confidence. We continued to push and create chances and we can be happy.
“It is normal for the fans to have some doubt at 2-1, but the team continued to do their work and played our planned game. I thought we deserved the scoreline. We scored with different players and we can continue to build our identity with the players.”