The left inset is caused by Toolbar's
contentInsetStart which by default is 16dp.
Change this to 72dp to align to the keyline.
Update for support library v24.0.0:
To match the Material Design spec there's an additional attribute
contentInsetStartWithNavigation which by default is 16dp. Change this if you also have a navigation icon.
~ Answered on 2014-10-21 20:42:14