We present some preliminary results from new Chandra and XMM-Newton X-ray observations of the nearby barred spiral galaxy NGC1672. It shows dramatic nuclear and extra-nuclear star formation activity, including starburst regions located near each end of its strong bar, both of which host ultraluminous X-ray sources (ULXs). With the new high-spatial-resolution Chandra imaging, we show for the first time that NGC1672 possesses a faint ($L(X)~10^39 erg/s), hard central X-ray source surrounded by an X-ray bright circumnuclear starburst ring that dominates the X-ray emission in the region. The central source may represent low-level AGN activity, or alternatively the emission from X-ray binaries associated with star-formation in the nucleus.
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