Australia's housing market is cooling after bubble-like growth in the past 2 years. Today's building approvals reading reflects this contraction as it marks 3 straight months of negative numbers (February to April) (source: tradingeconomics.com) Forget that gap here, the past 3 negative readings were for February, March and April.April: -5.6%, forecast 2.1%, previous -4.8% (revised from -3.5%).This reading by itself might not put any significant pressure on the AUD, but as the week passes, there are some key releases to monitor.Tuesday: Retail Sales (m/m) April - forecast: 0.3%, previous 0.1%RBA Monetary Policy StatementWednesday: GDP q/q (Q1) forecast 0.9%, previous 0.8%