The Canadian dollar fell slightly versus the U.S. dollar on Tuesday as the the oil price rally lost momentum and other commodities dropped after hawkish comments from Fed member Jeffery Lacker. The interest rate divergence that has kept the USD bid was boosted by positive economic indicators on Monday and comments from Fed members. The market will now focus on the U.S. employment data to be released starting tomorrow at 8:15 am EDT as the ADP private payrolls report is published. The International Monetary Fund (IMF) downgraded Canadian growth forecasts to 1.2 percent in 2016 and 1.9 percent next year. The updated estimates were also lower for the U.S. which saw its growth estimates trimmed down to 1.6 percent in 2016. The outlook for the global economy remained unchanged as the downgrades were balanced with upgrades to the U.K. after it was too pessimistic on the effect of the Brexit vote in the short term. The GBP was close to a 31 year low as British PM has outlined the schedule for the eventual exit from the European Union as the government will trigger Article 50 in March, 2017. Canadian Finance Minister couldn’t have timed his announcement to change housing rules any better. The next day after Bill Morneau announced four updates to cool down the real estate market there are signs that Vancouver home sales have dropped as some tax incentives and tougher mortgage rules will be in effect this month.