Key TOCOM rubber futures fell on Friday, extending declines from a seven-week high hit in the previous session as concerns about the euro zone economy and caution ahead of key US payrolls data offset recent optimism about demand from China. The most-active Tokyo Commodity Exchange rubber contract for May delivery was down 1.4 yen, or 0.5 percent, at 262.3 yen per kg as of 0040 GMT. It is on track for a more than 1 percent gain this week.

The benchmark contract on Thursday hit a high of 266.2 yen, the highest level since October 15, helped by optimism about demand from China, the world's biggest rubber consumer, after the new head of the Communist Party pledged to ensure stable economic growth next year. The European Central Bank on Thursday painted a bleak outlook for the euro zone and discussed cutting interest rates at its policy meeting. The closely watched monthly US jobs report is due later in the day. The report, which can set the tone for financial markets world-wide, is expected to show payrolls rose only 93,000 last month.

Copyright Reuters, 2012