Preheat oven to 350 degrees. Combine grated apples, sugars and vegetable oil in a large bowl. Add the eggs, vanilla and cinnamon. Gradually add the flour mixed with the baking powder and salt, mixing well to combine. Pour into a greased bundt pan and bake 1 hour, or until a toothpick inserted in the center of the cake comes out clean. Cool in the pan for 10 minutes, then invert onto a cooling rack.
Combine the glaze ingredients in a small bowl and drizzle over the top of the cake before serving.