Preheat oven to 350.
Prepare the cherries by coarsely chopping and draining on a paper towel.
In a mixing bowl, cream oil and sugar together; beat in eggs, vanilla extract, almond extract, and cherry juice. Add pink food coloring if so desired.
In a separate bowl whisk flour, baking powder, and salt together until well combined. Gently mix into the wet ingredients until just combined. Fold in the chopped cherries to the batter.
Grease the two bread pans and pour in the bread batter. Bake for 45-50 minutes, until springy to the touch and a toothpick inserted in the center comes out clean.
Allow bread to cool completely before dusting with powdered sugar.
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