The former Olympiakos boss’ current deal expires at the end of the season and he implied that he would only sign a new one if it was right for both parties.
“They are happy, but have not said anything about a new contract,” Valverde told a press conference.
“When considering a new contract it depends on the club and me. If the club wants me to continue then they have to tell me and I have to think about it.
“It may be thought that we are doing well now, but football is a day by day business.”
Valverde went on to say that despite defeat to Paris Saint-Germain in the first leg of their last 16 Champions League tie, los Che can take positives from the match and have a chance in the return fixture.
He added: “We always try to win, however hard the games may be, we try to take something out of them.
“It is clear that the other day we scored a goal that has given us hope for the return leg, but it is also true that we had expected to do better.
“On the one hand it is clear that we were not allowed to do better by our opponents, on the other it is clear that there are some mistakes that need correcting. And the players are aware of this.”