Monday forex open, 24 August 2026: Indicative prices show CAD weaker on trade war
Key Takeaways
- •FX markets began the week on 24 August 2026 with very light Monday-morning liquidity.
- •Early indicative pricing showed USD/CAD at 1.3821, with the Canadian dollar weaker against the US dollar.
- •The report linked the loonie’s weakness to the US-Canada trade dispute and the implementation of 50% US tariffs.
- •Canadian Prime Minister Mark Carney has vowed retaliation after trade talks collapsed.
- •The next key focus is on further comments from Ottawa and Washington as trading liquidity increases.
Foreign exchange markets opened the week on Monday, 24 August 2026, with the customary thin liquidity of a Monday morning open. Liquidity remains very light until it improves as more Asian trading centres come online, and prices are liable to swing around in the interim, so care is warranted.
The indicative levels below were captured just before:
- 5am Tokyo
- 4am Singapore/Hong Kong
- 6am Australia / 8am New Zealand
Early indicative prices:
- EUR/USD: 1.1676
- USD/JPY: 159.02
- GBP/USD: 1.3627
- USD/CHF: 0.7992
- USD/CAD: 1.3821
- AUD/USD: 0.7168
- NZD/USD: 0.5980
The notable mover at the open is the Canadian dollar, which is weaker against the US dollar, with USD/CAD indicated at 1.3821 — a move the report links to the US–Canada trade war. Related coverage reports that US-Canada trade talks collapsed as 50% tariffs took effect, with Carney vowing retaliation. The loonie trades with particular sensitivity to bilateral trade news because the United States is by far Canada's largest export market, taking roughly three-quarters of Canadian goods exports, so tariff escalation and retaliation headlines are closely watched by currency market participants. With talks collapsed and Canadian Prime Minister Mark Carney vowing retaliation against the 50% US tariffs, further statements out of Ottawa and Washington are the main development to watch for the pair as liquidity builds through the Asian session and into the European open.
As background, indicative prices are early quotes published ahead of the full liquidity of the global trading day. The FX week begins in the Asia-Pacific session — New Zealand and Australia first, followed by Tokyo, then Singapore and Hong Kong — and liquidity deepens further when European centres come online later in the day. Spreads at the Monday open are typically wider than during peak trading hours, and early quotes may differ from the levels at which trades can actually be executed.
The author notes that a weekend news roundup will follow shortly.
Source: ForexLive (investingLive)
