Monday, August 3, 2026 — Civic Holiday
It's the Civic Holiday, so the TSX and the big banks are closed — but plenty is still moving that will hit your wallet this week. Here are five things worth knowing today.
1. Markets and banks are closed today — here's what that means for your money
The TSX, TSX Venture, and Montreal Exchange are shut for the Civic Holiday and reopen Tuesday morning. Most major banks are closed too, which means e-transfers, bill payments, and cheque deposits made today may not clear until Tuesday.
What it means for you:
If you have a mortgage payment, credit card payment, or bill due today, submit it a day early where possible to avoid a processing delay counting against you. Any trades placed today will execute Tuesday when markets reopen.
2. Oil just crashed — and gas prices are following it down
Brent crude fell roughly 6% to close to $84 a barrel after reports that a planned strike on Iran was called off, easing fears of a wider Middle East supply disruption. The national average pump price was already down to about $1.73/litre heading into the weekend, and the fresh oil drop points to more relief at the pump over the next few days.
What it means for you:
If you're filling up this week, prices are trending in your favour, but oil has whipsawed sharply in both directions all summer on Middle East headlines. Top up rather than fill up if you're unsure which way it moves next.
3. WestJet's strike is now in its second day — here's your money back
WestJet's network remains grounded after flight attendants walked out Sunday at 12:01 a.m. MT. The airline has extended its fee-free change and cancellation policy through August 6 for anyone with upcoming travel.
What it means for you:
Since a strike is considered outside the airline's control, WestJet isn't required to pay cash compensation under passenger rights rules — but you're still entitled to a full refund or rebooking. If you paid by credit card, check your card's trip-interruption or trip-cancellation coverage before booking a replacement flight out of pocket.
4. The Aug 19 tariff deadline is 16 days out — and still unresolved
The U.S.'s 50% tariff on Canadian wine, dairy, furniture, cement, and hockey gear is set to take effect August 19. Talks between Ottawa and Washington are ongoing, but there's no sign of a deal yet.
What it means for you:
If you're a business owner importing or exporting any of these categories, or planning a big-ticket furniture purchase, the next two-plus weeks are the window to act before pricing potentially shifts. For everyday shoppers, watch for early price adjustments at retailers who stock affected goods.
5. A $400-billion pharma megadeal is rattling global markets — and your RRSP might notice
Reports of Bristol Myers Squibb-AstraZeneca merger talks sent AstraZeneca shares down roughly 6% and dragged on the FTSE 100. It's a European and U.S. story, but any pharma or global-index holdings inside your RRSP or TFSA could see a ripple when markets reopen Tuesday.
What it means for you:
If you hold international or health-care sector funds, expect some noise this week. A single M&A story rarely justifies changing a long-term portfolio, but it's worth a glance at your statement rather than a reaction.
This article is for informational purposes only and isn't financial, legal, or tax advice. Talk to a licensed professional about your specific situation.
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